(b) You are the CEO for a lightweight compasses manufacturer. The demand function for the lightweight compasses is given by p = 40 – 4q²where q is the number of lightweight compasses produced in millions. It costs the company $15 to make a lightweight compass. (1) Write an equation giving profit as a function of the number of lightweight compasses produced. (ii) At the moment the company produces 2 million lightweight compasses and makes a profit of $18,000,000, bul you would like lo reduce productiun. What smaller number of lightweight compasses could the company produce to yield the same profit?

(b) You are the CEO for a lightweight compasses manufacturer. The demand function for the lightweight compasses is given by p = 40 – 4q²where q is the number of lightweight compasses produced in millions. It costs the company $15 to make a lightweight compass. (1) Write an equation giving profit as a function of the number of lightweight compasses produced. (ii) At the moment the company produces 2 million lightweight compasses and makes a profit of $18,000,000, bul you would like lo reduce productiun. What smaller number of lightweight compasses could the company produce to yield the same profit?

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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Concept explainers

Equations and Inequations

Equations and inequalities describe the relationship between two mathematical expressions.

Linear Functions

A linear function can just be a constant, or it can be the constant multiplied with the variable like x or y. If the variables are of the form, x2, x1/2 or y2 it is not linear. The exponent over the variables should always be 1.

Question

(b) You are the CEO for a lightweight compasses manufacturer. The demand
function for the lightweight compasses is given by p = 40 – 4q²where q
is the number of lightweight compasses produced in millions. It costs the company $15
to make a lightweight compass.
(1) Write an equation giving profit as a function of the number of lightweight compasses
produced.
(ii) At the moment the company produces 2 million lightweight compasses and makes a profit
of $18,000,000, but you would like to reduce production. Whal smaller number of
lightweight compasses could the company produce to yield the same profit?

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