The demand equation for your company's virtual reality video headsets is p =  2,000 q0.3  where q is the total number of headsets that your company can sell in a week at a price of p dollars. The total manufacturing and shipping cost amounts to $100 per headset. (a) Find the weekly cost, revenue and profit as a function of the demand q for headsets. C(q)=  R(q)= P(q)= (b) How many headsets should your company sell to maximize profit? (Give your answer to the nearest whole number.) q =        headsets What is the greatest profit your company can make in a week? (Give your answer to the nearest whole number.) $   Second derivative test: Your answer above is a critical point for the weekly profit function. To show it is a maximum, calculate the second derivative of the profit function. P"(q)=  780q−0.7       Evaluate P"(q) at your critical point. The result is      , which means that the profit is      at the critical point, and the critical point is a maximum.

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

The demand equation for your company's virtual reality video headsets is

p = 
2,000
q0.3
 

where q is the total number of headsets that your company can sell in a week at a price of p dollars. The total manufacturing and shipping cost amounts to $100 per headset.

(a) Find the weekly cost, revenue and profit as a function of the demand q for headsets.
C(q)= 
R(q)=
P(q)=
(b) How many headsets should your company sell to maximize profit? (Give your answer to the nearest whole number.)
q =        headsets
What is the greatest profit your company can make in a week? (Give your answer to the nearest whole number.)
$  
Second derivative test:
Your answer above is a critical point for the weekly profit function. To show it is a maximum, calculate the second derivative of the profit function.
P"(q)= 
780q−0.7
 
 
 
Evaluate P"(q) at your critical point. The result is      , which means that the profit is      at the critical point, and the critical point is a maximum.
Expert Solution
steps

Step by step

Solved in 4 steps with 4 images

Blurred answer
Similar questions
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