3) You run a small business that makes and sells widgets. Assume your daily rent and salaries total $50, and that the manufacturing cost is $3 for a widget. Let x be the nurmber of widgets you make and sell in a day. Let yl be the price that is charged in order to sell x widgets. Assume from past data you have computed the demand curve as y1= 40( 0.9) (+) 50 a) Write a formula for the cost function C= b) Write the revenue function R 9x c) Write a formula for the profit function y2 (do not multiply out or simplify in any way): (50+3 d) Write the derivative of y2! e) Using the derivative, what is the number of widgets you should sell daily to maximize your profit? | Show how you found this). Write your answer with 4 decimal places. f) What price do you charge your customers for a widget? Write your answer with 2 decimal places. e) How much is your daily profit? Write your answer with 2 decimal places.
3) You run a small business that makes and sells widgets. Assume your daily rent and salaries total $50, and that the manufacturing cost is $3 for a widget. Let x be the nurmber of widgets you make and sell in a day. Let yl be the price that is charged in order to sell x widgets. Assume from past data you have computed the demand curve as y1= 40( 0.9) (+) 50 a) Write a formula for the cost function C= b) Write the revenue function R 9x c) Write a formula for the profit function y2 (do not multiply out or simplify in any way): (50+3 d) Write the derivative of y2! e) Using the derivative, what is the number of widgets you should sell daily to maximize your profit? | Show how you found this). Write your answer with 4 decimal places. f) What price do you charge your customers for a widget? Write your answer with 2 decimal places. e) How much is your daily profit? Write your answer with 2 decimal places.
Chapter2: Using Economics To Study Health Issues
Section: Chapter Questions
Problem 1QAP
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I need help with D,E,F,G I have solved A,B,C to help you solve the rest. Plz help me solve the rest(This is not graded)
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