Maximizing Profits A manufacturer of tennis rackets finds that the total cost C(x) (in dollars) of manufacturing x rackets/day is given by C(x) = 600 + 2x + 0.0003x². Each racket can be sold at a price of p dollars, where p is related to x by the demand equation p = 9 -0.0002x. If all rackets that are manufactured can be sold, find the daily level of production that will yield a maximum profit for the manufacturer. Hint: The revenue is R(x) = px, and the profit is P(x)= R(x) C(x). rackets

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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Maximizing Profits A manufacturer of tennis rackets finds that the total cost C(x) (in dollars) of manufacturing x
rackets/day is given by C(x) = 600 + 2x + 0.0003x2. Each racket can be sold at a price of p dollars, where p is related to x
by the demand equation p = 9 -0.0002x. If all rackets that are manufactured can be sold, find the daily level of
production that will yield a maximum profit for the manufacturer. Hint: The revenue is R(x) = px, and the profit is
P(x) = R(x) C(x).
rackets
Transcribed Image Text:Maximizing Profits A manufacturer of tennis rackets finds that the total cost C(x) (in dollars) of manufacturing x rackets/day is given by C(x) = 600 + 2x + 0.0003x2. Each racket can be sold at a price of p dollars, where p is related to x by the demand equation p = 9 -0.0002x. If all rackets that are manufactured can be sold, find the daily level of production that will yield a maximum profit for the manufacturer. Hint: The revenue is R(x) = px, and the profit is P(x) = R(x) C(x). rackets
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