Market research shows that 1000 units sell when the price is 15 dollars
MATHEMATICS · Subjective · CBSE · Mathematics · Applications of Derivatives · Applications of Derivatives
Problem
Market research shows that 1000 units sell when the price is 15 dollars, and for every 1 dollar increase in price, 50 fewer units are sold. Fixed costs are 2000 dollars and each unit costs 5 dollars to produce. Find the price that maximizes profit.