A company is planning to manufacture and sell hair dryers. The price-demand and cost equations are estimated to be respectively; p(x) = 50 – 0.2x , C(x) = 5x + 1700 where x is the # of hair dryers that can be sold at a price of $p per hair dryer and C(x) is the total cost (in dollars) of producing x dryers.
A company is planning to manufacture and sell hair dryers. The price-demand and cost equations are estimated to be respectively; p(x) = 50 – 0.2x , C(x) = 5x + 1700 where x is the # of hair dryers that can be sold at a price of $p per hair dryer and C(x) is the total cost (in dollars) of producing x dryers.
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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A company is planning to manufacture and sell hair dryers. The price-demand and cost equations are estimated to be respectively;
p(x) = 50 – 0.2x , C(x) = 5x + 1700 where x is the # of hair dryers that can be
sold at a price of $p per hair dryer and C(x) is the total cost (in dollars) of producing x dryers.
a. Find the revenue equation.
b. Graph the cost and revenue functions on the same
c. Find the break-even points and indicate on the graph the regions of loss and profit.
d. Find the profit equation.
e. Find the marginal profit at x = 150, include the correct units, and write an interpretation of the result.
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