Suppose that the total revenue function for a manufacturer is R(x) = 300 ln(x + 1), so
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Suppose that the total revenue function for a manufacturer is R(x) = 300 ln(x + 1), so the sale of x units of a product brings in about R(x) dollars. Suppose also that the total cost of producing x units is C(x) dollars, where C(x) = 2x. Find the value of x at which the profit function R(x) - C(x) will be maximized. Show that the profit function has a relative maximum and not a relative minimum point at this value of x.
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Calculus And Its Applications
ISBN: 9780134437774
14th Edition
Authors: Larry Goldstein, David Lay, David Schneider, Nakhle Asmar
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