A company estimates that the demand for its product fluctuates with the price it charges. The demand function is q= 280,000 – 400p Where q equal the number of units demanded and p equals the price in dollars. The cost of producing q units of the product is estimated by the function C = 350,000 + 300q + 0.0015q2 i. Determine the number of units that should be produce in order to maximize the annual profit. ii. What price should be charged? iii. What is the annual profit expected to equal?

A company estimates that the demand for its product fluctuates with the price it charges. The demand function is q= 280,000 – 400p Where q equal the number of units demanded and p equals the price in dollars. The cost of producing q units of the product is estimated by the function C = 350,000 + 300q + 0.0015q2 i. Determine the number of units that should be produce in order to maximize the annual profit. ii. What price should be charged? iii. What is the annual profit expected to equal?

Algebra for College Students

10th Edition

ISBN:9781285195780

Author:Jerome E. Kaufmann, Karen L. Schwitters

Publisher:Jerome E. Kaufmann, Karen L. Schwitters

Chapter9: Polynomial And Rational Functions

Section9.4: Graphing Polynomial Functions

Problem 44PS: A company determines that its weekly profit from manufacturing and selling x units of a certain item...

See similar textbooks