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Q: calculus revenue and cost ( No Answer,   1 Comment )
Subject: calculus revenue and cost
Category: Reference, Education and News > Homework Help
Asked by: rockndanie-ga
List Price: $4.50
Posted: 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.

Subject: 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.

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