Raggs, Ltd., a clothing firm, determines that in order to sell x suits, the price per suit must be p = 320.5x. It also determines that the total cost of producing x suits is given by C(x) = 5000+.3x². a) Find the total revenue b) Find the total profit c) How many suits must the company produce and sell in order to maximize profit? d) What is the maximum profit? e) What price per suit must be charged in order to maximize profit?
Raggs, Ltd., a clothing firm, determines that in order to sell x suits, the price per suit must be p = 320.5x. It also determines that the total cost of producing x suits is given by C(x) = 5000+.3x². a) Find the total revenue b) Find the total profit c) How many suits must the company produce and sell in order to maximize profit? d) What is the maximum profit? e) What price per suit must be charged in order to maximize 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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Transcribed Image Text:Raggs, Ltd., a clothing firm, determines that in order to sell x suits,
the price per suit must be p = 320.5x. It also determines that the
total cost of producing x suits is given by C(x) = 5000+.3x².
a) Find the total revenue
b) Find the total profit
c) How many suits must the company produce and sell
in order to maximize profit?
d) What is the maximum profit?
e) What price per suit must be charged in order to
maximize profit?
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