Calculus: Early Transcendentals
Calculus: Early Transcendentals
8th Edition
ISBN: 9781285741550
Author: James Stewart
Publisher: Cengage Learning
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Question
2. The daily revenue R achieved by selling x boxes of candy is given by R(x)=9.6x-0.04x². The daily cost C of producing x boxes of candy is given by C(x)=1.2x+272. How many boxes of candy must the company sell to maximize profit? What is the maximum profit? (Hint: First determine the profit function.)
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Transcribed Image Text:2. The daily revenue R achieved by selling x boxes of candy is given by R(x)=9.6x-0.04x². The daily cost C of producing x boxes of candy is given by C(x)=1.2x+272. How many boxes of candy must the company sell to maximize profit? What is the maximum profit? (Hint: First determine the profit function.)
Directions: Show all work in a neat and organized manner and use equal signs appropriately. Clearly indicate your answers. 1. The demand for a platinum smart watch is given by p=4200-2x, and the supply is given by p=0.01x²+2x+1000, where x is the number of watches demanded and supplied when the price per watch is p dollars. a. What is the demand when the price is $2500? What is the supply when the price is $2500? b. Find the equilibrium quantity and the equilibrium price.
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Transcribed Image Text:Directions: Show all work in a neat and organized manner and use equal signs appropriately. Clearly indicate your answers. 1. The demand for a platinum smart watch is given by p=4200-2x, and the supply is given by p=0.01x²+2x+1000, where x is the number of watches demanded and supplied when the price per watch is p dollars. a. What is the demand when the price is $2500? What is the supply when the price is $2500? b. Find the equilibrium quantity and the equilibrium price.
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