Wednesday

July 23, 2014

July 23, 2014

Posted by **Nitish** on Saturday, July 20, 2013 at 9:59am.

function P(x) = 300 — 4x. The cost function is c(x) = 500 + 28x where x is the number

of units produced. Find x so that the profit is maximum.

- ISBM -
**Steve**, Saturday, July 20, 2013 at 2:43pmprofit = revenue - cost

revenue = demand * price

profit is thus x(300-4x) - (500+28x)

= -4x^2 + 272x - 500

This a parabola with vertex at (34,4124)

So, max profit is 4124 when x = 34

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