Suppose the Sunglasses Hut Company has a profit function given by P(q) = −0.01q² + 4q — 27, where q is the number of thousands of pairs of sunglasses sold and produced, and P(q) is the total profit, in thousands of dollars, from selling and producing a pairs of sunglasses. A) Find a simplified expression for the marginal profit function. (Be sure to use the proper variable in your answer.) Answer: MP(q) B) How many pairs of sunglasses (in thousands) should be sold to maximize profits? (If necessary, round your answer to three decimal places.) thousand pairs of sunglasses need to be sold. C) What are the actual maximum profits (in thousands) that can be expected? (If necessary, round your answer to three decimal places.) Answer: Answer: thousand dollars of maximum profits can be expected.

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...
icon
Related questions
Question
100%

Please show all work. Thank You!

Suppose the Sunglasses Hut Company has a profit function given by P(q) = -0.01q² + 4q - 27, where q
is the number of thousands of pairs of sunglasses sold and produced, and P(q) is the total profit, in
thousands of dollars, from selling and producing a pairs of sunglasses.
A) Find a simplified expression for the marginal profit function. (Be sure to use the proper variable in your
answer.)
Answer: MP(q)
B) How many pairs of sunglasses (in thousands) should be sold to maximize profits? (If necessary, round your
answer to three decimal places.)
thousand pairs of sunglasses need to be sold.
C) What are the actual maximum profits (in thousands) that can be expected? (If necessary, round your
answer to three decimal places.)
Answer:
Answer:
thousand dollars of maximum profits can be expected.
Transcribed Image Text:Suppose the Sunglasses Hut Company has a profit function given by P(q) = -0.01q² + 4q - 27, where q is the number of thousands of pairs of sunglasses sold and produced, and P(q) is the total profit, in thousands of dollars, from selling and producing a pairs of sunglasses. A) Find a simplified expression for the marginal profit function. (Be sure to use the proper variable in your answer.) Answer: MP(q) B) How many pairs of sunglasses (in thousands) should be sold to maximize profits? (If necessary, round your answer to three decimal places.) thousand pairs of sunglasses need to be sold. C) What are the actual maximum profits (in thousands) that can be expected? (If necessary, round your answer to three decimal places.) Answer: Answer: thousand dollars of maximum profits can be expected.
Expert Solution
steps

Step by step

Solved in 3 steps with 3 images

Blurred answer
Recommended textbooks for you
Calculus: Early Transcendentals
Calculus: Early Transcendentals
Calculus
ISBN:
9781285741550
Author:
James Stewart
Publisher:
Cengage Learning
Thomas' Calculus (14th Edition)
Thomas' Calculus (14th Edition)
Calculus
ISBN:
9780134438986
Author:
Joel R. Hass, Christopher E. Heil, Maurice D. Weir
Publisher:
PEARSON
Calculus: Early Transcendentals (3rd Edition)
Calculus: Early Transcendentals (3rd Edition)
Calculus
ISBN:
9780134763644
Author:
William L. Briggs, Lyle Cochran, Bernard Gillett, Eric Schulz
Publisher:
PEARSON
Calculus: Early Transcendentals
Calculus: Early Transcendentals
Calculus
ISBN:
9781319050740
Author:
Jon Rogawski, Colin Adams, Robert Franzosa
Publisher:
W. H. Freeman
Precalculus
Precalculus
Calculus
ISBN:
9780135189405
Author:
Michael Sullivan
Publisher:
PEARSON
Calculus: Early Transcendental Functions
Calculus: Early Transcendental Functions
Calculus
ISBN:
9781337552516
Author:
Ron Larson, Bruce H. Edwards
Publisher:
Cengage Learning