Profit-loss analysis. Use the cost and revenue functions from Problem 88 . (A) Write a profit function and graph it in a graphing calculator. (B) Determine graphically when P = 0 , P < 0 , and P > 0 to the nearest unit. (C) Determine graphically the maximum profit (to the near est thousand dollars) and the output (to the nearest unit) that produces the maximum profit. What is the wholesale price of the radio (to the nearest dollar) at this output? [Compare with Problem 88 C .] (D) Use the models in parts (A) and (B) to find the equilibrium point. Write the equilibrium price to the nearest cent and the equilibrium quantity to the nearest unit.
Profit-loss analysis. Use the cost and revenue functions from Problem 88 . (A) Write a profit function and graph it in a graphing calculator. (B) Determine graphically when P = 0 , P < 0 , and P > 0 to the nearest unit. (C) Determine graphically the maximum profit (to the near est thousand dollars) and the output (to the nearest unit) that produces the maximum profit. What is the wholesale price of the radio (to the nearest dollar) at this output? [Compare with Problem 88 C .] (D) Use the models in parts (A) and (B) to find the equilibrium point. Write the equilibrium price to the nearest cent and the equilibrium quantity to the nearest unit.
Solution Summary: The author explains how to calculate the profit function using C(x)=160+10x and R
Profit-loss analysis. Use the cost and revenue functions from Problem
88
.
(A) Write a profit function and graph it in a graphing calculator.
(B) Determine graphically when
P
=
0
,
P
<
0
,
and
P
>
0
to the nearest unit.
(C) Determine graphically the maximum profit (to the near est thousand dollars) and the output (to the nearest unit) that produces the maximum profit. What is the wholesale price of the radio (to the nearest dollar) at this output? [Compare with Problem
88
C
.]
(D) Use the models in parts (A) and (B) to find the equilibrium point. Write the equilibrium price to the nearest cent and the equilibrium quantity to the nearest unit.
Mathematics with Applications In the Management, Natural, and Social Sciences (12th Edition)
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