The World's Only Manufacturer of Left-Handed Widgets Has Determined That

question 56

Short Answer

The world's only manufacturer of left-handed widgets has determined that if q left-handed widgets are manufactured and sold per year at price p, then the cost function is , and the manufacturer's revenue function is . The manufacturer also knows that the demand function for left-handed widgets is .
A. Write the profit function in terms of price p.
B. Sketch the profit function to determine what price yields the largest profit. What is that price?

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