Find level of production yielding maximum profit hence find maximum profit

Question

.

a)The profit function for a certain commodity is given by 𝑃 (𝑥)=110𝑥−𝑥

2−1000. Find the The level of production that yields maximum profit and hence find the maximum profit

(6 marks)

Answer 1

P=110x -x^2 -1000

P' = 110-2x=0

x =55

P(55) = 110(55)-55^2 -1000

max P = 6050-3025-1000= 2025