1. **Stating the problem:** We are given the daily production cost function to manufacture $x$ chairs as $C(x) = 50 + 14x + \frac{x^2}{2}$. 2. **Understanding the cost function:** This function represents the total cost incurred to produce $x$ chairs in a day. It includes a fixed cost of 50 (independent of $x$), a linear cost term $14x$, and a quadratic cost term $\frac{x^2}{2}$ which accounts for increasing marginal costs. 3. **Demand function:** You mentioned a demand function but did not provide it. The demand function typically relates the price $p$ to the quantity demanded $x$, often written as $p = f(x)$. 4. **Next steps:** If you provide the demand function, we can analyze revenue, profit, or find optimal production levels. Since the demand function is missing, please provide it to proceed further.