The annual revenue and cost functions (in dollars) for the manufacture of dining room sets are approximately R(x) = 500x − 0.02x^2 and C(x) = 160x + 100, 000 where x denotes the number of dining room sets made. What is the maximum annual profit

College Algebra
1st Edition
ISBN:9781938168383
Author:Jay Abramson
Publisher:Jay Abramson
Chapter3: Functions
Section3.3: Rates Of Change And Behavior Of Graphs
Problem 3SE: How are the absolute maximum and minimum similar to and different from the local extrema?
icon
Related questions
icon
Concept explainers
Question

The annual revenue and cost functions (in dollars) for the
manufacture of dining room sets are approximately
R(x) = 500x − 0.02x^2
and
C(x) = 160x + 100, 000
where x denotes the number of dining room sets made. What is the
maximum annual profit? Use the second derivative test to show that you
have a maximum

Expert Solution
steps

Step by step

Solved in 2 steps with 2 images

Blurred answer
Knowledge Booster
Application of Differentiation
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, calculus and related others by exploring similar questions and additional content below.
Similar questions
  • SEE MORE QUESTIONS
Recommended textbooks for you
College Algebra
College Algebra
Algebra
ISBN:
9781938168383
Author:
Jay Abramson
Publisher:
OpenStax
College Algebra (MindTap Course List)
College Algebra (MindTap Course List)
Algebra
ISBN:
9781305652231
Author:
R. David Gustafson, Jeff Hughes
Publisher:
Cengage Learning