calculus revenue and cost
Category: Reference, Education and News > Homework Help
Asked by: rockndanie-ga
List Price: $4.50
16 Oct 2006 14:17 PDT
Expires: 18 Oct 2006 12:16 PDT
Question ID: 774152
the cost to produce x thousand automobiles is given by the function c(x)=4x^2-8x+3. the price that we charge is p(x)=16-2x. what is the revenue? what is the profit for producing x thousand automobiles? what is the number of automobiles that must be produced to maximize profit? must show all work.
|There is no answer at this time.|
Re: calculus revenue and cost
From: deadweightloss-ga on 17 Oct 2006 18:44 PDT
Set marginal revenue equal to marginal cost. To find marginal revenue, get total revenue (price times quantity) and differentiate it. Differentiate cost to get marginal cost. Set MC=MR and solve for x.
If you feel that you have found inappropriate content, please let us know by emailing us at firstname.lastname@example.org with the question ID listed above. Thank you.
|Search Google Answers for|