Problem: The unit cost in peso to produce a chemically formulated product is $13 and the fixed cost is $370. The price-demand function in dollars per unit is p=70-2D.Determine the following:
a. Determine the optimal demand of this product and confirm that profit occurs at this demand.
b. What is the demand that will give maximum revenue of this product and how much is the total revenue?
c. Find the demand at which breakeven occurs and the range of profitability.