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A company produces and sells a consumer product and is able to control the demand for the product by varying the selling price. The approximate relationship between price and demand is
P=$38 + (2,700/D ) - (4,900/D^2), for D>1
where p is the price per unit in dollars and D is the demand per month. The company is seeking to maximize its profit. The fixed cost is $1,100 per month and the variable cost (Cv?) is $ 41 per unit.
a. What is the number of units that should be produced and sold each month to maximize? profit? ( round the nearest whole number)
b. Show that your answer to Part? (a) maximizes profit.
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