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TOL Company Ltd have undertaken an investigation for a client cor and has discovered that the total cost curve,Tc is given by Tc where P is price and x is output. 14C %3D REQUIRED (a) Find the equation of profit. (b) Using differential calculus find the output of the compan maximizes profit. (c) If the marginal revenue is the first derivative of the total re with respect to (w.r.t) output, find the equation of ma revenue.

TOL Company Ltd have undertaken an investigation for a client cor and has discovered that the total cost curve,Tc is given by Tc where P is price and x is output. 14C %3D REQUIRED (a) Find the equation of profit. (b) Using differential calculus find the output of the compan maximizes profit. (c) If the marginal revenue is the first derivative of the total re with respect to (w.r.t) output, find the equation of ma revenue.

Advanced Engineering Mathematics
Advanced Engineering Mathematics
10th Edition
ISBN:9780470458365
Author:Erwin Kreyszig
Publisher:Erwin Kreyszig
Chapter2: Second-order Linear Odes
Section: Chapter Questions
Problem 1RQ
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[NB: Table I may be ustu T11 attc mpung m3 qCucotion QUESTION THREE TOL Company Ltd have undertaken an investigation for a client company and has discovered that the total cost curve,Tc is given by Tc where P is price and x is output. 140 +5x2 %3D REQUIRED (a) Find the equation of profit. (b) Using differential calculus find the output of the company that maximizes profit. (c) If the marginal revenue is the first derivative of the total revenue with respect to (w.r.t) output, find the equation of marginal revenue. (d) If elasticity of demand is given by (P/x) (1/dp/dx), find the elasticity of demand when profit is maximised. QUESTION FOUR In a machine shop a company manufactures two types of electronic components, x and y, on which it aims to maximize the contribution to profit. The company wishes to know the ideal combination of x and y to make. All the electronic components are produced in three main stages; Assembly, Inspection & Testing, and Packing. In assembly each x takes 1
Transcribed Image Text:[NB: Table I may be ustu T11 attc mpung m3 qCucotion QUESTION THREE TOL Company Ltd have undertaken an investigation for a client company and has discovered that the total cost curve,Tc is given by Tc where P is price and x is output. 140 +5x2 %3D REQUIRED (a) Find the equation of profit. (b) Using differential calculus find the output of the company that maximizes profit. (c) If the marginal revenue is the first derivative of the total revenue with respect to (w.r.t) output, find the equation of marginal revenue. (d) If elasticity of demand is given by (P/x) (1/dp/dx), find the elasticity of demand when profit is maximised. QUESTION FOUR In a machine shop a company manufactures two types of electronic components, x and y, on which it aims to maximize the contribution to profit. The company wishes to know the ideal combination of x and y to make. All the electronic components are produced in three main stages; Assembly, Inspection & Testing, and Packing. In assembly each x takes 1
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