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A manufacturer determines that the cost of making units of a commodity is C(x) = 1800 + 25x 0.2x2 + 0.001x3 and the demand function is p(x) = 48.2 0.03x. (a) Graph the cost and revenue functions and

A manufacturer determines that the cost of making units of a commodity is C(x) = 1800 + 25x – 0.2x2 + 0.001x3 and the demand function is p(x) = 48.2 – 0.03x.
(a) Graph the cost and revenue functions and use the graphs to estimate the production level for maximum profit.
(b) Use calculus to find the production level for maximum profit.
(c) Estimate the production level that minimizes the average cost.

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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: June 30, 2010 23:35:35
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