Suppose the Sunglasses Hut Company has a profit function given by P(q)=−0.03q^2+6q−48 where qq is the number of thousands of pairs of sunglasses sold and produced, and P(q)P(q) is the total profit, in thousands of dollars, from selling and producing qq 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.) Answer:         thousand pairs of sunglasses need to be sold. C) What are the actual maximum profits (in thousands) that can be expected

Algebra & Trigonometry with Analytic Geometry
13th Edition
ISBN:9781133382119
Author:Swokowski
Publisher:Swokowski
Chapter7: Analytic Trigonometry
Section7.6: The Inverse Trigonometric Functions
Problem 94E
Question

Suppose the Sunglasses Hut Company has a profit function given by P(q)=−0.03q^2+6q−48 where qq is the number of thousands of pairs of sunglasses sold and produced, and P(q)P(q) is the total profit, in thousands of dollars, from selling and producing qq 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.)

Answer:         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:         thousand dollars of maximum profits can be expected.

Expert Solution
trending now

Trending now

This is a popular solution!

steps

Step by step

Solved in 5 steps with 2 images

Blurred answer
Recommended textbooks for you
Algebra & Trigonometry with Analytic Geometry
Algebra & Trigonometry with Analytic Geometry
Algebra
ISBN:
9781133382119
Author:
Swokowski
Publisher:
Cengage
College Algebra (MindTap Course List)
College Algebra (MindTap Course List)
Algebra
ISBN:
9781305652231
Author:
R. David Gustafson, Jeff Hughes
Publisher:
Cengage Learning
College Algebra
College Algebra
Algebra
ISBN:
9781305115545
Author:
James Stewart, Lothar Redlin, Saleem Watson
Publisher:
Cengage Learning
Glencoe Algebra 1, Student Edition, 9780079039897…
Glencoe Algebra 1, Student Edition, 9780079039897…
Algebra
ISBN:
9780079039897
Author:
Carter
Publisher:
McGraw Hill
Holt Mcdougal Larson Pre-algebra: Student Edition…
Holt Mcdougal Larson Pre-algebra: Student Edition…
Algebra
ISBN:
9780547587776
Author:
HOLT MCDOUGAL
Publisher:
HOLT MCDOUGAL
Algebra and Trigonometry (MindTap Course List)
Algebra and Trigonometry (MindTap Course List)
Algebra
ISBN:
9781305071742
Author:
James Stewart, Lothar Redlin, Saleem Watson
Publisher:
Cengage Learning