The cost function is C(x) = 5x + 21 and price-demand function is p(x) = 25−4x • Find the profit function P(x). • Find the number of items which need to be sold in order to maximize profit. • Find the maximum profit.
The cost function is C(x) = 5x + 21 and price-demand function is p(x) = 25−4x • Find the profit function P(x). • Find the number of items which need to be sold in order to maximize profit. • Find the maximum 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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The cost function is C(x) = 5x + 21 and price-demand
function is p(x) = 25−4x
• Find the profit function P(x).
• Find the number of items which need to be sold in order to maximize profit.
• Find the maximum profit.
• Find the price to charge per item in order to maximize profit.
• Find and interpret break-even points.
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