Peter is a manufacturer of dishwashing liquid. If his monthly demand function for 750 ml is q = 4000 - 250p and his total cost function is C(q) = 500 + 0.2 q. a. Derive an expression, R(q) for Peter's total revenue curve. b. Derive an expression n(q) fo Peter's profit function. c. Deterimine whether Peter function is increasing or decreasing when he produces 5 hundreds, 750ml bottles of dishing washing liquid.
Peter is a manufacturer of dishwashing liquid. If his monthly demand function for 750 ml is q = 4000 - 250p and his total cost function is C(q) = 500 + 0.2 q. a. Derive an expression, R(q) for Peter's total revenue curve. b. Derive an expression n(q) fo Peter's profit function. c. Deterimine whether Peter function is increasing or decreasing when he produces 5 hundreds, 750ml bottles of dishing washing liquid.
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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Peter is a manufacturer of dishwashing liquid. If his monthly demand function for 750 ml is q = 4000 - 250p and his total cost function is C(q) = 500 + 0.2 q.
a. Derive an expression, R(q) for Peter's total revenue curve.
b. Derive an expression n(q) fo Peter's profit function.
c. Deterimine whether Peter function is increasing or decreasing when he produces 5 hundreds, 750ml bottles of dishing washing liquid.
d. How many bottle of dishwashing liquid should Peter produce per month if he wishes to maximise his profit.
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