The demand function for a manufacturer's product is p= f(q) = – 0.16q + 432,where p is the price (in dollars) per unit when q units are demanded (per day).Find the level of production that maximizes the manufacturer's total revenue anddetermine this revenue.What quantity will maximize the revenue?q =units

Given p= -0.16q + 432 Total revenue = TR = p*q= (-0.16q + 432)q = -0.16q2 + 432q Total revenue is…

Answered: The demand function for a…

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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