Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

i really need the answer for question b. i already worked out section a. 4. A vendor makes and sells x strings of beads at

image text in transcribed
image text in transcribed
i really need the answer for question b. i already worked out section a.
image text in transcribed
4. A vendor makes and sells x strings of beads at her souvenir store every month. The monthly cost and price-demand equations are, respectively, C(x)=0.00002x3+0.04x2+150x+45000 x=4000200p b) Given the information above i. How many sets of beads should she manufacture each month to maximize her profit? (6 marks) ii. What is the maximum monthly profit? (4 marks) iii. How much should the company charge for each set of beads to achievemaximum profit? (2 mark) 4. A vendor makes and sells x strings of beads at her souvenir store every month. The monthly cost and price-demand equations are, respectively, C(x)=0.00002x3+0.04x2+150x+45000 x=4000200p a) Given the information above i. How many sets of beads should she manufacture each month to maximize her revenue? ( 3 marks) ii. What is the maximum monthly revenue? (3 marks) iii. How much should she charge for each set of beads to achieve maximum revenue? (2 mark) b) Given the information above i. How many sets of beads should she manufacture each month to maximize her profit? (6 marks) ii. What is the maximum monthly profit? (4 marks) iii. How much should the company charge for each set of beads to achievemaximum profit? (2 mark)

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

Valuation Workbook

Authors: Tim Koller, Marc Goedhart, David Wessels, Jeffrey P. Lessard, McKinsey & Company

4th Edition

0471702161, 978-0471702160

More Books

Students also viewed these Finance questions