Question
A bakery finds that the price they can sell cakes is given by the function p = 580 10x where x is the number of
A bakery finds that the price they can sell cakes is given by the function p = 580 10x where x is the number of cakes sold per day, and p is price. The total cost function of the company is given by c = (30+5x) 2 where x is previously defined, and c is total cost.
(a) Find the profit function [Hint: profit is revenue minus total cost]
(b) Find the quantity that maximizes profit
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Foundations of Financial Management
Authors: Stanley Block, Geoffrey Hirt, Bartley Danielsen
15th edition
77861612, 1259194078, 978-0077861612, 978-1259194078
