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The revenue and the cost rate of Gold Star mining operation are, respectively 1 R'(t) = 19 – tz and C'(t) = 3 + 3t? where t is measured in years and R and C are measured in millions of dollars. Determine how long the operation should continue to maximize profit. Find the profit that can be generated during this period. Ignore any fixed costs.

The revenue and the cost rate of Gold Star mining operation are, respectively 1 R'(t) = 19 – tz and C'(t) = 3 + 3t? where t is measured in years and R and C are measured in millions of dollars. Determine how long the operation should continue to maximize profit. Find the profit that can be generated during this period. Ignore any fixed costs.

Advanced Engineering Mathematics
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 revenue and the cost rate of Gold Star mining operation are, respectively 1 1 R'(t) = 19 – t7 аnd C'(t) = 3 + 3t? where t is measured in years and R and C are measured in millions of dollars. Determine how long the operation should continue to maximize profit. Find the profit that can be generated during this period. Ignore any fixed costs.
Transcribed Image Text:The revenue and the cost rate of Gold Star mining operation are, respectively 1 1 R'(t) = 19 – t7 аnd C'(t) = 3 + 3t? where t is measured in years and R and C are measured in millions of dollars. Determine how long the operation should continue to maximize profit. Find the profit that can be generated during this period. Ignore any fixed costs.
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