11. The price demand per camera of a manufacturer of digital cameras isp(x)94.8-5, where 1 < x < 15 (x is in million), and the cost functionis C(a) 156 19.7x in millions of dollars(a) Find the revenue function, the profit function, and their domains(b) Find the value of x, to the nearest thousand cameras, that will generate the maximum profit(c) What is the price per camera, to the nearest dollar, that generatesthe maximum profit?

Question
Asked Oct 17, 2019
11. The price demand per camera of a manufacturer of digital cameras is
p(x)94.8-5, where 1 < x < 15 (x is in million), and the cost function
is C(a) 156 19.7x in millions of dollars
(a) Find the revenue function, the profit function, and their domains
(b) Find the value of x, to the nearest thousand cameras, that will gen
erate the maximum profit
(c) What is the price per camera, to the nearest dollar, that generates
the maximum profit?
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11. The price demand per camera of a manufacturer of digital cameras is p(x)94.8-5, where 1 < x < 15 (x is in million), and the cost function is C(a) 156 19.7x in millions of dollars (a) Find the revenue function, the profit function, and their domains (b) Find the value of x, to the nearest thousand cameras, that will gen erate the maximum profit (c) What is the price per camera, to the nearest dollar, that generates the maximum profit?

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Expert Answer

Step 1

The price demand function is given by,

p(x) 94.8-5x where 1xs15
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p(x) 94.8-5x where 1xs15

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Step 2

(a) Find the revenu...

(Number of units produced) x (Price per unit)
Revenue function
= (94.8-5x)x
=94.8x-5x2
Find the profit function
Profut function (Revenue function)- (Cost function)
= (94.8x-5x)156 +19.7x)
_
= 75.1x -5x -156
The domain of revenue function and profit function is (-o,00)
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(Number of units produced) x (Price per unit) Revenue function = (94.8-5x)x =94.8x-5x2 Find the profit function Profut function (Revenue function)- (Cost function) = (94.8x-5x)156 +19.7x) _ = 75.1x -5x -156 The domain of revenue function and profit function is (-o,00)

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Math

Calculus