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Profit Maximization

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The cost of producing X units of a certain commodity is C(X) = 3X^2 +6x +9 Dollars. If the price is p(x) = (45-x) dollars per unit, determine the level of production that maximizes profit.

a) x=1
b)x=2
c)x=3
d)x=5

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Dear student, please refer to the attachment for the solution.

Revenue = (Price per unit)×(Number of units)
Price ...

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  • MSc, Indian Institute of Technology - Roorkee (I.I.T.-ROORKEE)
  • BSc, Banaras Hindu University
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