How many units should be sold so that company can make a maximum profit if
profit function for x units is given by p(x) = 25 + 64x - x?
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How many units should be sold so that company can make a maximum profit if profit function for x units is given by p(x) = 25 + 64x - x²?
Given:
Profit function [P(x)] = 25 + 64x - x²
To find:
The number of units to be sold for obtaining maximum profit
Calculation:
In order to get maximum profit, the derivative of profit function should be equal to zero
=> dP(x)/dx = 0
=> d(25 + 64x - x²)/dx= 0
=> 64 - 2x = 0
=> 2x = 64
=> x = 32
32 units should be sold in order to get maximum profit
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