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?

Transcribed Image Text:

C(x) 160 + 10x Cost function R(x) = xp(x) x(50 – 1.25x) Revenue function