Use derivatives to find the price at which you should set each item in order to get the maximum profits. Use an appropriate whole number value of q to get your answer. Answer: Best price = $ (Round to the nearest penny.) %3D

Calculus: Early Transcendentals
8th Edition
ISBN:9781285741550
Author:James Stewart
Publisher:James Stewart
Chapter1: Functions And Models
Section: Chapter Questions
Problem 1RCC: (a) What is a function? What are its domain and range? (b) What is the graph of a function? (c) How...
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Suppose you are given the following demand, revenue, and cost functions:
D(q) :
– 0.00034q? – 0.0742q + 583
-
R(q) = - 0.00034q³ – 0.0742q? + 583q
C(q) = 102.2q + 16100
Use derivatives to find the price at which you should set each item in order to get the maximum
profits. Use an appropriate whole number value of q to get your answer.
Answer: Best price = $
(Round to the nearest penny.)
Transcribed Image Text:Suppose you are given the following demand, revenue, and cost functions: D(q) : – 0.00034q? – 0.0742q + 583 - R(q) = - 0.00034q³ – 0.0742q? + 583q C(q) = 102.2q + 16100 Use derivatives to find the price at which you should set each item in order to get the maximum profits. Use an appropriate whole number value of q to get your answer. Answer: Best price = $ (Round to the nearest penny.)
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