Profit An entrepreneur starts new companies and sells them when their growth is maximized. Suppose that the annual profit for a new company is given by
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Chapter 10 Solutions
Mathematical Applications for the Management, Life, and Social Sciences
- Maximum Profit The profit P (in dollars) generated by selling x units of a certain commodity ¡s given by P(x)=1500+12x0.0004x2 What is the maximum profit, and how many units must be sold to generate it?arrow_forwardDrug Concentration When a drug is administered orally, it takes some time before the blood concentration reaches its maximum level. After that time, concentration levels decrease. When 500 milligrams of procainamide is administered orally, one model for a particular patient gives blood concentration C, in milligrams per liter, after t hours as C=2.65(e0.2te2t) What is the maximum blood-level concentration, and when does that level occur?arrow_forwardSize of High Schools The farm population has declined dramatically in the years since World War II, and with that decline, rural school districts have been faced with consolidating in order to be economically efficient. One researcher studied data from the early 1960s on expenditures for high schools ranging from 150 to 2400 in enrollment. He considered the cost per pupil as a function of the number of pupils enrolled in the high school, and he found the approximate formula C=7430.402n+0.00012n2 where n is the number of pupils enrolled and C is the cost, in dollars, per pupil. a. Make a graph of C versus n. b. What enrollment size gives a minimum per-pupil cost? c. If a high school had an enrollment of 1200, how much in per-pupil cost would be saved by increasing enrollment to the optimal size found in part b?arrow_forward
- Revenue A manufacturer finds that the revenue generated by selling x units of a certain commodity is given by the function R(x)=80x0.4x2, where the revenue R(x) is measured in dollars. What is the maximum revenue? and how many units should be manufactured to obtain this maximum?arrow_forwardSales A soft-drink vendor at a popular beach analyzes his sales records and find that if he sells x cans of soda pop in one day, his profit (in dollars) is given by P(x)=0.001x2+3x1800 What is his maximum profit per day, and how many cans must he sell for maximum profit?arrow_forwardCompetition Two friends enjoy competing with each other to see who has the best time in running a mile. Initially before they ever raced each other, the first friend runs a mile in 7 minutes, and for each race that they run, his time decreases by 13 seconds. Initially, the second friend runs a mile in 7 minutes and 20 seconds, and for each race that they run, his time decreases by 16 seconds. Which will be the first race in which the second friend beats the first?arrow_forward
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