Rebel*and*Saint
New member
- Joined
- Oct 23, 2006
- Messages
- 7
A product can be produced at a total cost C(x) = 800 + 100x^2 + x^3 where x is the number of units produced (x>0). The total revenue for the same product is given by R(x) = 60000x - 50x^2
a) What are the production levels (number of units) for which the company actually makes a profit?
b) Determine the number of units that have to be produced to maximize the profit.
Thus far I have done this--
Profit = revenue - costs
cost C(x) = 800 + 100x^2 + x^3
(x>0)
Revenue R(x) = 60000x + 50x^2
I can't seem to get past this point, and any help is greatly appreciated!
Thank you
a) What are the production levels (number of units) for which the company actually makes a profit?
b) Determine the number of units that have to be produced to maximize the profit.
Thus far I have done this--
Profit = revenue - costs
cost C(x) = 800 + 100x^2 + x^3
(x>0)
Revenue R(x) = 60000x + 50x^2
I can't seem to get past this point, and any help is greatly appreciated!
Thank you