Repeat Exercise 33 for C(q) = 2q 3 59q 2 + 4q + 7,600 and p

Question:

Repeat Exercise 33 for C(q) = 2q3 − 59q2 + 4q + 7,600 and p = 124 − 2q.


Data from Exercises 33

A manufacturer of machinery parts determines that q units of a particular piece will be sold when the price is p = 110 − q dollars per unit. The total cost of producing those q units is C(q) dollars, where

a. How much profit is derived from the sale of the q units at p dollars per unit?

b. For what value of q is profit maximized?

c. Find the consumers’ surplus for the level of production q0 that corresponds to maximum profit.

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For  book-img-for-question

Calculus For Business, Economics And The Social And Life Sciences

ISBN: 9780073532387

11th Brief Edition

Authors: Laurence Hoffmann, Gerald Bradley, David Sobecki, Michael Price

Question Posted: