For a certain company, the cost for producing r items is 55x + 300 and the revenue for selling z items is 952-0.522. The profit that the company makes is how much it takes in (revenue) minus how much it spends (cost). In economic models, one typically assumes that a company wants to maximize its profit, or at least wants to make a profit! Part a: Set up an expression for the profit from producing and selling 2 items. We assume that the company sells all of the items that it produces. (Hint: it is a quadratic polynomial.) Part b: Find two values of 2 that will create a profit of $300.
For a certain company, the cost for producing r items is 55x + 300 and the revenue for selling z items is 952-0.522. The profit that the company makes is how much it takes in (revenue) minus how much it spends (cost). In economic models, one typically assumes that a company wants to maximize its profit, or at least wants to make a profit! Part a: Set up an expression for the profit from producing and selling 2 items. We assume that the company sells all of the items that it produces. (Hint: it is a quadratic polynomial.) Part b: Find two values of 2 that will create a profit of $300.
Advanced Engineering Mathematics
10th Edition
ISBN:9780470458365
Author:Erwin Kreyszig
Publisher:Erwin Kreyszig
Chapter2: Second-order Linear Odes
Section: Chapter Questions
Problem 1RQ
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Transcribed Image Text:For a certain company, the cost for producing items is 55x + 300 and the revenue for selling z
items is 952 0.522
The profit that the company makes is how much it takes in (revenue) minus how much it spends
(cost). In economic models, one typically assumes that a company wants to maximize its profit, or at
least wants to make a profit!
Part a: Set up an expression for the profit from producing and selling x items. We assume that the
company sells all of the items that it produces. (Hint: it is a quadratic polynomial.)
Part b: Find two values of 2 that will create a profit of $300.
The field below accepts a list of numbers or formulas separated by semicolons (e.g. 2; 4; 6 or
2+1; z-1). The order of the list does not matter. To enter √a, type sqrt(a).
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