Mathematics, 13.09.2021 14:20 ThGlitchz
At a selling price of GHC3.80 per unit, the expected sales of a particular product would be
GHC10,200, but would fall to GHC8,400 if the selling price was GHC4.70. The total cost function
(GHC) for the product is 15000 + 1.8x where x is the number of units.
Required:
(a)
Derive the demand function, assuming it is linear.
(6 marks)
(b)
Derive an expression for total profit.
(6 marks)
(c)
Calculate the maximum profit and the level of sales at which the maximum is attained.
(6 marks)
(d)
What price is charged per unit at the maximum profit point
Answers: 3
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At a selling price of GHC3.80 per unit, the expected sales of a particular product would be
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