Question: A small tie shop sells ties for $3.50 each. The daily cost function is estimated to be C(x) dollars, where x is the number of

A small tie shop sells ties for $3.50 each. The daily cost function is estimated to be C(x) dollars, where x is the number of ties sold on a typical day and C(x) = .0006x3 - .03x2 + 2x + 20. Find the value of x that will maximize the store’s daily profit.

Step by Step Solution

3.33 Rating (156 Votes )

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock

The revenue function is Rx 35x Thus the prof... View full answer

blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Applied Calculus Questions!