6) Find the profit function. Profit(x)d-Revenue(x)dx7) Find the marginal revenue function.dCost(x)dx8) Find the marginal cost function. Marketing research has found that at a price of $179.95 per unit, sales would be 175,000 units eachweek.If that price were to be raised by $10 per unit then sales would decrease by 5,000 units each week.Production costs for this item are $54 per unit with weekly overhead costs of $225,000.Let x represent the number of units produced and sold each week.

Profit(x) = Revenue(x) - Cost(x) = (529.95x-x2500)-(54x+225000) = 475.95x-x2500-225000

Answered: 6) Find the profit function. Profit(x)

Business

Operations Management

6) Find the profit function. Profit(x)

Practical Management Science

6th Edition

ISBN:9781337406659

Author:WINSTON, Wayne L.

Publisher:WINSTON, Wayne L.

Chapter2: Introduction To Spreadsheet Modeling

Section: Chapter Questions

Problem 20P: Julie James is opening a lemonade stand. She believes the fixed cost per week of running the stand...

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