Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Maximizing Profits A manufacturer of tennis rackets finds that the total cost C(x) (in dollars) of manufacturing x rackets/day is given by C(x) = 200

image text in transcribed
image text in transcribed
Maximizing Profits A manufacturer of tennis rackets finds that the total cost C(x) (in dollars) of manufacturing x rackets/day is given by C(x) = 200 + 8x + 0.0003x2. Each racket can be sold at a price of p dollars, where p is related to x by the demand equation p = 12 - 0.0002x. If all rackets that are manufactured can be sold, find the daily level of production that will yield a maximum profit for the manufacturer. Hint: The revenue is R(x) = px, and the profit is P(x) = R(x) - C(x). rackets

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

Fractals Everywhere

Authors: Michael F Barnsley

2nd Edition

148325769X, 9781483257693

More Books

Students also viewed these Mathematics questions

Question

Coaching and motivational behavior

Answered: 1 week ago