Maximum revenue and profit. A company manufactures and sells x television sets per month. The monthly cost and price-demand equations are
C(x) = 72,000 + 60x
- (A) Find the maximum revenue.
- (B) Find the maximum profit, the production level that will realize the maximum profit, and the price the company should charge for each television set.
- (C) If the government decides to tax the company $5 for each set it produces, how many sets should the company manufacture each month to maximize its profit? What is the maximum profit? What should the company charge for each set?
Want to see the full answer?
Check out a sample textbook solutionChapter 4 Solutions
Calculus for Business, Economics, Life Sciences, and Social Sciences (14th Edition)
Additional Math Textbook Solutions
Numerical Analysis
A Problem Solving Approach to Mathematics for Elementary School Teachers (12th Edition)
Mathematical Ideas (13th Edition) - Standalone book
Finite Mathematics & Its Applications (12th Edition)
MATH IN OUR WORLD (LOOSELEAF)-W/ACCESS
Using & Understanding Mathematics: A Quantitative Reasoning Approach (7th Edition)
- Height and Weight For a healthy person who is 4 feet 10 inches tall, the recommended minimum weight is about 91 pounds and increases by about 3.6 pounds for each additional inch of height. The recommended maximum weight is about 115 pounds and increases by about 4.5 pounds for each additional inch of height. (a) Let x be the number of inches by which a person’s height exceeds 4 feet 10 inches and let y be the person’s weight (in pounds). Write a system of inequalities that describes the possible values of x and y for a healthy person. (b) Use a graphing utility to graph the system of inequalities from part (a). (c) What is the recommended weight range for a healthy person who is 6 feet tall?arrow_forwardThe manufacturer of a weight training bench spends $120 to build each bench and sells them for $170. The manufacturer also has fixed costs each month of $150,000. (a) Find the cost function C when x benches are manufactured. (b) Find the revenue function R when x benches are sold. (c) Show the break-even point by graphing both the Revenue and Cost functions on the same grid. (d) Find the break-even point. Interpret what the break-even point means.arrow_forward
- Algebra & Trigonometry with Analytic GeometryAlgebraISBN:9781133382119Author:SwokowskiPublisher:CengageCollege AlgebraAlgebraISBN:9781305115545Author:James Stewart, Lothar Redlin, Saleem WatsonPublisher:Cengage Learning
- Algebra for College StudentsAlgebraISBN:9781285195780Author:Jerome E. Kaufmann, Karen L. SchwittersPublisher:Cengage LearningGlencoe Algebra 1, Student Edition, 9780079039897...AlgebraISBN:9780079039897Author:CarterPublisher:McGraw Hill