A company's market research department recommends the manufacture and marketing of a new headphone set for the iPhoneXS.
After suitable test marketing, the research department presents the following demand function...
p = 67 - 3q
The financial department provides the cost function below...
C(q) = 84 + 18q
where $84 is the estimate of fixed costs (tooling and overhead) and $18 is the estimate of marginal costs per headphone set (materials, labor, marketing, transportation, storage, etc.).
Find the price, per unit, that produces the maximumprofit.
(Round your answer to 2 decimal places, if necessary)
261,329 students got unstuck by Course
Hero in the last week
Our Expert Tutors provide step by step solutions to help you excel in your courses