ABC ltd is planning to market a new model of shaving rajor. rather than set the selling price of the rajor based only on production cost estimates, management polls the retailer of the razors to see how many razors they would buy for varoius places. From this survey it is determined that the unit demend function (the relationship between amount x eachretailer would buy and the price p he is willing to pay) is
x=-1500p + 30000
The fixed cost to the company for production of the razors are found to be rs 28000 and the cost for material and labour to produce each rajor is estimated to be rs 8 per unit. uou are required to:
A. Find Cost function, Revenue function and profit function
B. Find the price to be charged to retailers in order to obtain a maximum profit.
C. Find the number of unit sold at this price
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