The cost function for a product is C(q) = q³ – 45q² + 675q + 920 for 0 < q < 50 and a price per unit of $557. Round your answers to the nearest whole number. a) What production level maximizes profit? q = | b) What is the total cost at this production level? cost = $ c) What is the total revenue at this production level? revenue = $ d) What is the total profit at this production level? profit

Algebra for College Students
10th Edition
ISBN:9781285195780
Author:Jerome E. Kaufmann, Karen L. Schwitters
Publisher:Jerome E. Kaufmann, Karen L. Schwitters
Chapter12: Algebra Of Matrices
Section12.CR: Review Problem Set
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The cost function for a product is C(q) = q³ – 45q² + 675q + 920 for 0 < q < 50 and a price per unit of $557.
Round your answers to the nearest whole number.
a) What production level maximizes profit?
q = |
b) What is the total cost at this production level?
cost = $
c) What is the total revenue at this production level?
revenue = $
d) What is the total profit at this production level?
profit = $
:::
Transcribed Image Text:The cost function for a product is C(q) = q³ – 45q² + 675q + 920 for 0 < q < 50 and a price per unit of $557. Round your answers to the nearest whole number. a) What production level maximizes profit? q = | b) What is the total cost at this production level? cost = $ c) What is the total revenue at this production level? revenue = $ d) What is the total profit at this production level? profit = $ :::
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