Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

1. George's Gentle Giants (GGG) rents out horses. It costs GGG $3,000 as a fixed cost every year to maintain the appropriate buildings and equiment.

image text in transcribed

image text in transcribed
1. George's Gentle Giants (GGG) rents out horses. It costs GGG $3,000 as a fixed cost every year to maintain the appropriate buildings and equiment. It also costs them $200 per horse per year to take care of the horses. GGG estimates that if they want to rent out x horses each year, they should charge p = 5000 - 25x dollars per year per horse. What is the marginal profit function for George's Gentle Giants' yearly horse rental? Penny's Precious Porcelain (PPP) sells porcelain figurines. The function S(t) gives the total dollar amount in sales that PPP has made over the years, where t is in years since the shop's opening. What do each of the equations below mean in this context? (a) S(20) = 2500000 (b) S' (20) =-250000 (c) S"(20) = 25000

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

A Preface To Logic

Authors: Morris R Cohen

1st Edition

0486801853, 9780486801858

More Books

Students also viewed these Mathematics questions