Question

I got part A right, but the rest…idk.
Solve the problems below that pertain to the profit from the sale of items.
(a) Marketing tells you that if you set the price of an item at $10 then you will be unable to sell it, but that you can sell 560 items for each dollar below $10 that you set the price. Suppose your fixed costs total $4000, and your marginal cost is $2 per item. What is the most profit you can make?
_4960_ $ . when the price is $_6_ . .

(b) How are your answers to the problem affected if the cost per item for the x items, instead of being simply $2, decreases below $2 in pr

Answer 1

well if you lower the cost of making something what would happen to your profit

Answer 2

I know it's basically the same as part A with just a tiny variation of the Cost function

Answer 3

But I need actual numbers. obviously the profit would increase

Answer 4

it's asking for an answer but it doesn't give you how low the cost per item decreases?

Answer 5

Wait it didn't post the whole question! Grrrr

Answer 6

Hey wait you're an engineer?!
What kind?

Answer 7

not an engineer i'm still in school, Electrical and Computer

Answer 8

What year?

Answer 9

Im a freshman undecided Engineer

Answer 10

2.5 to 3 ish

Answer 11

nice! yeah I know it's a weird time format because people do things different sometimes. that's cool :)
Okay okay Calculus. I need help with the section that talks about "decreases below $2 in proportion to x by 1 cent for each 28 items produced"

Answer 12

anyways your proportion is

\[.01(\frac{x}{28}\]

Answer 13

setting up that part of the equation is my downfall

Answer 14

i think but i'm not sure how they want to deal with fractional numbers -.-

Answer 15

right but does that go right back into the Cost function?

Answer 16

um yes it goes into the maginal part

Answer 17

so you have
\[-(2x-.01(\frac{x}{28}))\]

Answer 18

i think your marginal part was -2x correct?

Answer 19

so C=4000 +( 2x-.01(x/28))

Answer 20

it'd help to see your actual cost function

Answer 21

My original Cost was C=4000+2x
nothing fancy

Answer 22

yes so it'd be that

Answer 23

i was thining of a profit function

Answer 24

in which your costs would be negative

Answer 25

hmm but I think I did that and I got about the same Profit as before...which wouldn't make sense

Answer 26

yeah the Profit function was P= 10x-(x^2 / 560) - (4000+2x) for part A

Answer 27

well you're only subtracting a cent per 28 items

Answer 28

so it'd make sense that your answer is pretty close to your original answer

Answer 29

hmm then maybe it doesn't want decimals?

Answer 30

Okay then, I can do that one later, but can you look at one more problem? or are you as done as I am?