Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Please help me with that lab (1) Apple is considering manufacturing a new high power laptop. They estimate that the revenue earned from selling their

image text in transcribed

Please help me with that lab

image text in transcribed
(1) Apple is considering manufacturing a new high power laptop. They estimate that the revenue earned from selling their laptop at p dollars per laptop would be R(p) = 200vp, where R is given in billions of dollars per year. They also estimate that the cost incurred by supplying for demand at price p is given by C(p) = 2p + 100, where C is also given in billions of dollars per year. (a) (1 point) Find the yearly profit function P(p) in terms of p, the price per laptop. (b) (8 points) Use the First Derivative Test to identify the relative and absolute extrema (if any) of P(p). part (b) continued. (c) (1 point) At what price should Apple sell their laptop to maximize their yearly profit? (d) (1 point) What is the resulting maximum yearly revenue? (2) For this problem, assume that R(x) and C(z) represent the revenue and cost associ- ated to selling or making a units of a good. (a) (1 point) Using the general equation P(x) = R(x) - C(x), demonstrate that P'(a) = 0 exactly when R'(a) = C'(a). (b) (2 points) Explain in a sentence or two why your conclusion in part (a) makes sense (hint: as we discussed in class, think about P'(a), R'(a), and C'(a) as the approximated profit/revenue/cost of the a + 1" unit)

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

Step: 3

blur-text-image

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

Contemporary Precalculus A Graphing Approach

Authors: Thomas W Hungerford, Carol C Kanar, Douglas J Shaw

5th Edition

1111798508, 9781111798505

More Books

Students also viewed these Mathematics questions