Given the weekly demand curve of a local wine producer is p= 50-0.1q, and that the total
Fantastic news! We've Found the answer you've been seeking!
Question:
Given the weekly demand curve of a local wine producer is p= 50-0.1q, and that the total cost function is c= 1500+ 10q, where q bottles are produced each day and sold at a price of $p per unit. a)Express the weekly profit as a function of price.b) at what price must a bottle of wine be sold to realise maximum profit. c) what is the maximum profit that ca be made by the producer
Related Book For
Engineering Economy
ISBN: 978-0132554909
15th edition
Authors: William G. Sullivan, Elin M. Wicks, C. Patrick Koelling
Posted Date: