Question : (Engineering economy)
Need help with that ASAP,
A large company in the communication and publishing industry has quantified the relationship between the price of one of its products and the demand for this product as Price 150 0.01xDemand for an annual printing of this particular product. The fixed costs per year (i.e., per printing) $50,000 and the variable cost per unit S40. Q1: Determine the optimal demand? Q2: What is the maximum profit that can be achieved?