Raggs, Ltd. a clothing firm, determines that in order to sell x suits, the price per suit must be p = 140-0.75x. It also determines that the total cost of producing x suits is given by C(x) = 2500+0.5x². a) Find the total revenue, R(x). b) Find the total profit, P(x). c) How many suits must the company produce and sell in order to maximize profit? d) What is the maximum profit?
Raggs, Ltd. a clothing firm, determines that in order to sell x suits, the price per suit must be p = 140-0.75x. It also determines that the total cost of producing x suits is given by C(x) = 2500+0.5x². a) Find the total revenue, R(x). b) Find the total profit, P(x). c) How many suits must the company produce and sell in order to maximize profit? d) What is the maximum profit?
Calculus: Early Transcendentals
8th Edition
ISBN:9781285741550
Author:James Stewart
Publisher:James Stewart
Chapter1: Functions And Models
Section: Chapter Questions
Problem 1RCC: (a) What is a function? What are its domain and range? (b) What is the graph of a function? (c) How...
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Transcribed Image Text:Raggs, Ltd. a clothing firm, determines that in order to sell x suits, the price per suit must be p = 140 -0.75x. It also determines that the total
cost of producing x suits is given by C(x) = 2500+0.5x².
a) Find the total revenue, R(x).
b) Find the total profit, P(x).
c) How many suits must the company produce and sell in order to maximize profit?
d) What is the maximum profit?
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Transcribed Image Text:d) What is the maximum profit?
e) What price per suit must be charged in order to maximize profit?
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