Some years ago it was estimated that the demand for steel approximately satisfied the equation p-256-50x, and the total cost of producing x units of steel was C(x)-182+56x. (The quantity x was measured in millions of tons and the price and total cost were measured in millions of dollars.) Determine the level of production and the corresponding price that maximize the profits.

Some years ago it was estimated that the demand for steel approximately satisfied the equation p-256-50x, and the total cost of producing x units of steel was C(x)-182+56x. (The quantity x was measured in millions of tons and the price and total cost were measured in millions of dollars.) Determine the level of production and the corresponding price that maximize the profits.

Mathematics For Machine Technology

8th Edition

ISBN:9781337798310

Author:Peterson, John.

Publisher:Peterson, John.

Chapter44: Solution Of Equations By The Subtraction, Addition, And Division Principles Of Equality

Section: Chapter Questions

Problem 108A: The feed of a drill is the depth of material that the drill penetrates in one revolution. The total...

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