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Maximum Profit The profit P (in thousands of dollars) for a company in terms of the amount’s spent on advertising (in thousands of dollars) can be modeled by
(a) Find the amount spent on advertising that maximizes the profit.
(b) Find the point of diminishing returns.
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Chapter 3 Solutions
Bundle: Calculus: An Applied Approach, Brief, Loose-leaf Version, 10th + WebAssign Printed Access Card for Larson's Calculus: An Applied Approach, 10th Edition, Single-Term
- Explain how to find the input variable in a word problem that uses a linear function.arrow_forwardExplain how to find the output variable in a wordp roblem that uses a linear function.arrow_forwardAgriculture At a certain vineyard it is found that each grape vine produces about 10 lb of grapes in a season when about 700 vines are planted per acre. For each additional vine that is planted, the production of each vine decreases by about 1 percent. So, the number of pounds of grapes produced per acre is modeled by An=700+n10-0.01n where n is the number of additional vines planted. Find the number of vines that should be planted to maximize grape production.arrow_forward
- A soccer stadium holds 62,000 spectators. With aticket price of$11, the average attendance has been26,000. When the price dropped to $9, the averageattendance rose to 31,000. Assuming that attendanceis linearly related to ticket price, what ticket pricewould maximize revenue?arrow_forwardFlat-screen television sets A wholesaler of appliance finds that she can sell (1200x) flat-screen television sets each week when the price is x dollars. What price will maximize revenue?arrow_forwardWhen hired at a new job selling electronics, you are given two pay options: • Option A: Base salary of $14,000 a year with acommission of 10% of your sales • Option B: Base salary of $19,000 a year with acommission of 4% of your sales How much electronics would you need to sell foroption A to produce a larger income?arrow_forward
- When hired at a new job selling jewelry, you aregiven two pay options: • Option A: Base salary of $17,000 a year with acommission of 12% of your sales • Option B: Base salary of $20,000 a year with acommission of 5% of your sales How much jewelry would you need to sell for optionA to produce a larger income?arrow_forwardHow do you find the value of a function?arrow_forward
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