A Certain Company Has Cost Function $C ( x ) = 1000 + 2 x + 0.01 x ^ { 2 }$

question 84

Short Answer

A certain company has cost function $C ( x ) = 1000 + 2 x + 0.01 x ^ { 2 }$ and demand function $P ( x ) = 74 - 0.02 x$ . Find the production level x that will yield a maximum profit.

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Definitions:

North Americans

People originating from or residing in North America, including the United States, Canada, and Mexico.

Percent

A mathematical term representing a part per hundred, used to describe fractions in terms of whole numbers.

Orbitofrontal Cortex

A prefrontal cortex region involved in decision-making, impulse control, and the processing of rewards and punishments.

Initiative

Initiative refers to the ability to assess and initiate things independently, often seen as taking charge or starting projects on one's own.