Worldwide annual sales of a device in 2020-2024 were projected as q = -2.5p+1,830 million units at a selling price of $p per unit. Assuming a manufacturing cost of $100 per unit, what selling price would result in the largest annual profit? (Round your answer to two decimal places.) P= $416 ✔Nicely done. What is the resulting annual profit (in millions of dollars)? HINT [See Example 3, and recall that Profit= Revenue - Cost.] (Round your answer to the nearest whole number.) $ 252,200 X million

Worldwide annual sales of a device in 2020-2024 were projected as q = -2.5p+1,830 million units at a selling price of $p per unit. Assuming a manufacturing cost of $100 per unit, what selling price would result in the largest annual profit? (Round your answer to two decimal places.) P= $416 ✔Nicely done. What is the resulting annual profit (in millions of dollars)? HINT [See Example 3, and recall that Profit= Revenue - Cost.] (Round your answer to the nearest whole number.) $ 252,200 X million

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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