1) Suppose for a certain product, an analyst determines that the Marginal Profit function is P'(x) = 64 – 0.016x and identifies the fixed costs at $50000. a) Discuss and determine what specific piece of information we know based on the fixed cost value. b) Construct the specific form of the Profit function, P(x). c) Find the maximum profits the analyst projects can be earned on this product.

1) Suppose for a certain product, an analyst determines that the Marginal Profit function is P'(x) = 64 – 0.016x and identifies the fixed costs at $50000. a) Discuss and determine what specific piece of information we know based on the fixed cost value. b) Construct the specific form of the Profit function, P(x). c) Find the maximum profits the analyst projects can be earned on this product.

College Algebra

1st Edition

ISBN:9781938168383

Author:Jay Abramson

Publisher:Jay Abramson

Chapter3: Functions

Section3.3: Rates Of Change And Behavior Of Graphs

Problem 3SE: How are the absolute maximum and minimum similar to and different from the local extrema?

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