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6) Find the profit function. Profit(x)

6) Find the profit function. Profit(x)

Practical Management Science
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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6) Find the profit function. Profit(x) d -Revenue(x) dx 7) Find the marginal revenue function. d Cost(x) dx 8) Find the marginal cost function.
Transcribed Image Text:6) Find the profit function. Profit(x) d -Revenue(x) dx 7) Find the marginal revenue function. d Cost(x) dx 8) Find the marginal cost function.
Marketing research has found that at a price of $179.95 per unit, sales would be 175,000 units each week. 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.
Transcribed Image Text:Marketing research has found that at a price of $179.95 per unit, sales would be 175,000 units each week. 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.
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