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