Answered: It costs the American Automobile…

Name: It costs the American Automobile Company $8,000 to produce each automo
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Description: It costs the American Automobile Company $8,000 to produce each automobile, and fixed costs (rent and other expenses that do not depend on the amount of production) are $15,000 per week. The company’s price function is, p(x)=20,000-60x where p is the

College Algebra (MindTap Course List)

12th Edition

ISBN:9781305652231

Author:R. David Gustafson, Jeff Hughes

Publisher:R. David Gustafson, Jeff Hughes

Chapter4: Polynomial And Rational Functions

Section4.1: Quadratic Functions

Problem 6SC: A company that makes and sells baseball caps has found that the total monthly cost C in dollars of...

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It costs the American Automobile Company $8,000 to produce each automobile, and fixed costs (rent and other expenses that do not depend on the amount of production) are $15,000 per week. The company’s price function is, p(x)=20,000-60x where p is the price at which exactly x cars will be sold.

a) How many cars should be produced each week to maximize profit?

b) For what price should they be sold?

c) What is the company’s maximum profit?

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