we have to maximize profit....
so, we have to maximize funtion f(x)=px-x = (5x-xln(x)-x)
to optimize we equate the derivative to zero, hence: f'(x) = 5 - x/x - ln(x) -1 = 0
solving we get ln(x) = 3, so x = e3
put this value in p = 5 - ln(x) = 5 - ln(e3) = 2
so price should be $2
Content will be erased after question is completed.
Enter the email address associated with your account, and we will email you a link to reset your password.
Forgot your password?