Question
KUKU Steam Power Plant uses biomass for fuel in the production of electricity.The cost in Php per hour to produce electricity is given by 13.5X
KUKU Steam Power Plant uses biomass for fuel in the production of electricity.The cost in Php per hour to produce electricity is given by 13.5X + 12.15X2?, where X is in megawatts. An associated fixed cost of Php 540 per hour was attributed to the administrative expenses of the company. The price for the electricity is determined by X = 75 -0.1p, where p is the price.
a. How much should the power plant supply for it to have the maximum revenue?
b. What is the total revenue of the company when the profit is at its maximum?
C. What is the range of profitable demand?
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