Problem 1 At a price of $40 for a two-hour harbor tour, a water-tour company attracts 200 customers. For every $1 decrease in price, an additional 5 customers are attracted. The cost of carrying x customers in the tour is C(x) = 3,000 + 5x + 0.01x². a) Find the demand function; express the price, p, as a function of x, the number of customers. b) Find the revenue function R(x). c) Find the marginal revenue function. d) Find the profit function.

Problem 1 At a price of $40 for a two-hour harbor tour, a water-tour company attracts 200 customers. For every $1 decrease in price, an additional 5 customers are attracted. The cost of carrying x customers in the tour is C(x) = 3,000 + 5x + 0.01x². a) Find the demand function; express the price, p, as a function of x, the number of customers. b) Find the revenue function R(x). c) Find the marginal revenue function. d) Find the profit function.

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...

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