I have 2 problems left on my review and I could use some direction! Any help no matter how big or small is appreciated :)
1) r (t)= (35/1+17.8e^(1.5t) ) million dollars where t is time in years since 1997
A) find the point of diminishing return of revenue
B) describe the value of T in part a means in this context?
If you haven't pulled your hair out yet.. last one :)
An appliance firm is marketing a new fridge. The firm determines that in order to sell X fridges the price per fridge must be P=280-0.4X, thud R(X)=280X-0.4X^2 dollars. Also, the firm determined that the cost of producing X fridges is C (X)=0.6X^2+5000 dollars.
A) How many fridges must the company sell in order to maximize profit..
That's it! Thanks everyone
Can anyone help with calculus finance word problems?
2014-07-08 5:39 pm
回答 (1)
2014-07-08 6:03 pm
First question:
r (t)= (35/1+17.8e^(1.5t) )
Parenthesis is not aligned properly. r(t) = ?
-----------------------------------------------------------------
Second question:
Profit = revenue - cost
P(x) = R(x) - C(x)
Profit = (280X-0.4X^2 )-(0.6X^2 +5000)
dP/dX = 280 - (0.4)(2X) - (0.6)(2X)
dP/dX = 280 - 0.8X - 1.2X
set dP/DX = 0
280 - 2X = 0
2X=280
X = 140 (number of fridges must the company sell in order to maximize profit.)
d^2P/dX^2 = -2 < 0, so the profit has been maximized.
r (t)= (35/1+17.8e^(1.5t) )
Parenthesis is not aligned properly. r(t) = ?
-----------------------------------------------------------------
Second question:
Profit = revenue - cost
P(x) = R(x) - C(x)
Profit = (280X-0.4X^2 )-(0.6X^2 +5000)
dP/dX = 280 - (0.4)(2X) - (0.6)(2X)
dP/dX = 280 - 0.8X - 1.2X
set dP/DX = 0
280 - 2X = 0
2X=280
X = 140 (number of fridges must the company sell in order to maximize profit.)
d^2P/dX^2 = -2 < 0, so the profit has been maximized.
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