calculusSolve the following problems related to optimization problemsA restaurant finds that, when priced at $8, it sells 60 sandwiches a month. For every dollar that the restaurant discounts their sandwiches, they sell 5 more per month. If the cost to the restaurant to make a sandwich is $4,find the price that the restaurant should charge for a sandwich to maximize its profit. must show all steps. In order to construct a revenue function, we start with the demand function. Let p(x) bethe price per unit that a company can charge if it intends to sell æ units. This is referredto as the demand function or price function and is typically a decreasing function of x.This means that a higher price will sell fewer items while a lower price will sell more items.If r units are sold at a price per unit of p(x), the total revenue can be calculated asR(r) = quantity x price = rp(x)and R is referred to as the revenue function. The derivative R' is called the marginalrevenue function and is the rate of change of revenue with respect to the number of unitssold.If r units are sold, we can combine the revenue and cost functions to form the profitfunction. The total profit can be written asP(x) = R(x) – C(x)and is called the profit function P. The marginal profit P' is the rate of change of profitwith respect to the number of units sold.

Name: calculusSolve the following problems related to optimization problemsA
Uploaded: 2024-03-20T07:07:26.000Z
Channel: Bartleby
Description: calculusSolve the following problems related to optimization problemsA restaurant finds that, when priced at $8, it sells 60 sandwiches a month. For every dollar that the restaurant discounts their sandwiches, they sell 5 more per month. If the cost