BREAK-EVEN POINTS AND MAXIMIZATION
Assume that costs and expenses for Continental
Divide Mining can be modeled by
where t is the number of years past 2003.
(a) Use R(t) as given in Problem 20 and form the profit function (as a function of time).
(b) Use the function from (a) to find the year in which maximum profit occurs.
(c) Graph the profit function from (a) and the data points from the table.
(d) Through the decade from 2011 to 2021, does the function project increasing or decreasing profits? Do the data support this trend (as far as it goes)?
(e) How might management respond to this kind of projection?
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