Answered: The manufacturing laundry sinks has…

Name: The manufacturing laundry sinks has fixed costs if $100 per day but ha
Uploaded: 2024-03-20T07:07:26.000Z
Channel: Bartleby
Description: The manufacturing laundry sinks has fixed costs if $100 per day but has total costs of $2,500 per day when producing 15 sinks. The company has a daily demand function of q =360 – p, where q is the number of laundry sinks demanded and p is the price o

Advanced Engineering Mathematics

10th Edition

ISBN:9780470458365

Author:Erwin Kreyszig

Publisher:Erwin Kreyszig

Chapter2: Second-order Linear Odes

Section: Chapter Questions

Problem 1RQ

See similar textbooks

Related questions

Topic Video

Question

The manufacturing laundry sinks has fixed costs if $100 per day but has total costs of $2,500 per day when producing 15 sinks. The company has a daily demand function of q =360 – p, where q is the number of laundry sinks demanded and p is the price of a laundry sink.

1. If production increases continuously, what is likely to be the average cost per sink?

2. How many laundry sinks will the company need to produce in order to maximize its profits?

3. What is this maximum profit?

Expert Solution

Step by step

Solved in 4 steps with 4 images

SEE SOLUTION Check out a sample Q&A here

Knowledge Booster

$Optimization$

Learn more about

Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, advanced-math and related others by exploring similar questions and additional content below.

Similar questions