Question

Part C - Profit Optimization

Answer 1

@dumbcow I got A and B, how do I do C? :/

Answer 2

can u show ur work for parts a and b quick ?

Answer 3

i think u need to use similar method for solving part c by accounting for the extra cost function

Answer 4

Revenue = Price * Quantity
Profit = Revenue - Cost

Answer 5

Revenue: R(x) = -x^2/10 + 550x
Cost: C(x) = 60,000 + 140x

So P(x) -x^2/10 + 410x - 6000

Derive P(x) to find max x, then plug x into P(x) ?

Answer 6

\[C(x) = 60,000 + 140x \implies P(x) = R(x) - C(x)\]

Answer 7

What's P'(x)?

Answer 8

410-x^5

Answer 9

Try again

Answer 10

(-1/5)x + 410

Answer 11

Yeah that looks good

Answer 12

now set that = 0 and solve for p(x) what ever you found for the x value earlier

Answer 13

Then subtract by 450

Answer 14

haha i was too slow

Answer 15

:)

Answer 16

thanks guys

Answer 17

Np