Use the cost and revenue functions from Problem 88. (A) Write a profit function and graph it
Question:
Use the cost and revenue functions from Problem 88.
(A) Write a profit function and graph it in a graphing calculator.
(B) Determine graphically when P = 0, P < 0, and P > 0 to the nearest unit.
(C) Determine graphically the maximum profit (to the nearest thousand dollars) and the output (to the nearest unit) that produces the maximum profit. What is the wholesale price of the radio (to the nearest dollar) at this output? [Compare with Problem 88C.]
Problem 88
(C) Determine algebraically the maximum revenue (to the nearest thousand dollars) and the output (to the nearest unit) that produces the maximum revenue. What is the wholesale price of the radio (to the nearest dollar) at this output?
C(x) 160 + 10x Cost function R(x) = xp(x) x(50 – 1.25x) Revenue function
Step by Step Answer:
A Px Rx Cx ...View the full answer
College Mathematics For Business Economics, Life Sciences, And Social Sciences
ISBN: 978-0134674148
14th Edition
Authors: Raymond Barnett, Michael Ziegler, Karl Byleen, Christopher Stocker
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