Answered step by step
Verified Expert Solution
Question
1 Approved Answer
1. The revenue for a certain product is given by the equation R(x)=100(4OOIX+5)-x, where x is the number of produced items. Find the value of
1. The revenue for a certain product is given by the equation R(x)=100(4OOIX+5)-x, where x is the number of produced items. Find the value of x that results in maximum revenue. The production cost per a period of time is given by the quadratic function C(x)=a+bx2, where a, b are some positive real numbers and x represents the number of units. Find the minimal average cost. (The average cost is the total cost divided by the number of units produced.) A company produces and sells 2000 units per month at a price of P100. By reducing the price by P5 the company can additionally sell 200 units per month. Determine the maximum possible revenue of the company. Office, Inc. sells x mechanical pen per year at Pp per pen. The price-demand equation for these pens is p = 10-0.001x. What price should Ofce, Inc. charge for the pens to maximize revenue? What is the maximum revenue
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started