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(a) Form the profit function for the cost and revenue functions in Problem 3, and find the maximum profit. In problem 3, If a company has total costs C(x) = 15,000 + 35x + 0.1x2 and total revenues given by

(a) Form the profit function for the cost and revenue functions in Problem 3, and find the maximum profit.

In problem 3,

If a company has total costs C(x) = 15,000 + 35x + 0.1x2 and total revenues given by R(x) = 385x - 0.9x2, find the break-even points.

(b) Compare the level of production to maximize profit with the level to maximize revenue (see Problem 7). Do they agree?

In problem 7,

Find the maximum revenue for the revenue function R(x) = 385x - 0.9x2.

(c) How do the break-even points compare with the zeros of P(x)?

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Mathematical Applications for the Management Life and Social Sciences

Mathematical Applications for the Management Life and Social Sciences

ISBN: 978-1305108042

11th edition

Authors: Ronald J. Harshbarger, James J. Reynolds

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Posted Date: February 09, 2018 04:44:08
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