What is the expected profit if Yaster Inc. produces and sells 22,798 thingamabobs? $ Round to the nearest dollar. Note: The profit may be negative, if Yaster Inc. experiences a loss.

Advanced Engineering Mathematics
10th Edition
ISBN:9780470458365
Author:Erwin Kreyszig
Publisher:Erwin Kreyszig
Chapter2: Second-order Linear Odes
Section: Chapter Questions
Problem 1RQ
icon
Related questions
Question

xtra 66

Use the Sales information above to answer this question.
What is the expected profit if Yaster Inc. produces and sells 22,798
thingamabobs?
$
Round to the nearest dollar.
Note: The profit may be negative, if Yaster Inc. experiences a loss.
Transcribed Image Text:Use the Sales information above to answer this question. What is the expected profit if Yaster Inc. produces and sells 22,798 thingamabobs? $ Round to the nearest dollar. Note: The profit may be negative, if Yaster Inc. experiences a loss.
Thingamabob Sales
Yaster Inc. is trying to enter the thingamabob market. The research department
established the following price-demand, cost, and revenue functions:
Price-
p(x) = 57 1.14x
demand
function
|C(x) = 215 + 11x
Cost function
Revenue
R(x) = xp(x) = x(57 – 1.14x)
function
where x is in thousands of thingamabobs and C(x) and R(x) are in thousands
of dollars. The price p(x) is the price in dollars of one thingamabob when the
demand is a thousand thingamabobs. All three functions have domain
1≤ x ≤ 50.
Transcribed Image Text:Thingamabob Sales Yaster Inc. is trying to enter the thingamabob market. The research department established the following price-demand, cost, and revenue functions: Price- p(x) = 57 1.14x demand function |C(x) = 215 + 11x Cost function Revenue R(x) = xp(x) = x(57 – 1.14x) function where x is in thousands of thingamabobs and C(x) and R(x) are in thousands of dollars. The price p(x) is the price in dollars of one thingamabob when the demand is a thousand thingamabobs. All three functions have domain 1≤ x ≤ 50.
Expert Solution
steps

Step by step

Solved in 2 steps with 2 images

Blurred answer
Recommended textbooks for you
Advanced Engineering Mathematics
Advanced Engineering Mathematics
Advanced Math
ISBN:
9780470458365
Author:
Erwin Kreyszig
Publisher:
Wiley, John & Sons, Incorporated
Numerical Methods for Engineers
Numerical Methods for Engineers
Advanced Math
ISBN:
9780073397924
Author:
Steven C. Chapra Dr., Raymond P. Canale
Publisher:
McGraw-Hill Education
Introductory Mathematics for Engineering Applicat…
Introductory Mathematics for Engineering Applicat…
Advanced Math
ISBN:
9781118141809
Author:
Nathan Klingbeil
Publisher:
WILEY
Mathematics For Machine Technology
Mathematics For Machine Technology
Advanced Math
ISBN:
9781337798310
Author:
Peterson, John.
Publisher:
Cengage Learning,
Basic Technical Mathematics
Basic Technical Mathematics
Advanced Math
ISBN:
9780134437705
Author:
Washington
Publisher:
PEARSON
Topology
Topology
Advanced Math
ISBN:
9780134689517
Author:
Munkres, James R.
Publisher:
Pearson,