Compute the profit when the publisher sells

Reference no: EM133707390

Question: The cost function of producing the novel "Harry Potter" for a book publisher is C(x) = x2 + 2x + 2.486 (thousands dollars), where x denotes the quantity of books (thousands).

1) Graph the cost function C(x). (2 points)

2) The demand-price function for the novel is D(x) = 1 x-0.85 (dollars per book) and the supply-price function for the novel is S(x) = x + 5.15 (dollars per book). Find the equilibrium point x0 and the equilibrium price y0.

3) Compute the profit when the publisher sells x0 novels at the equilibrium price y0.

Reference no: EM133707390

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