Post a New Question


posted by .

The monthly demand function for a product sold by a monopoly is
p = 3750 − 1/3x^2 dollars, and the average cost is C = 1000 + 70x + 3x^2
dollars. Production is limited to 1000 units and x is in hundreds of units.
(a) Find the quantity that will give maximum profit.
(b) Find the maximum profit. (Round your answer to the nearest cent.)

  • Calculus - Incomplete -

    profit = revenue - cost
    revenue = price * quantity
    cost = avg cost * quantity

    No indication is given regarding price per unit.

  • Calculus -

    I've done p= x(3750 − 1/3x^2) and C = x(1000 + 70x + 3x^2)
    Profit= 3750x-1/3x^3-1000x-70x^2-3x^3= 2750x-70x^2-4/3x^3

    P'(x)= 2750-140x-12x^2
    Then I did the Quadratic Formula and and got 22 but it's wrong

  • Calculus -

    There seems to be something wrong here.
    It appears that x is the selling price, making

    x(3750 − 1/3x^2) the revenue

    But how can the average cost C be dependent on the selling price?

    Are you somehow mixing up x, making it the price in one place and the quantity in another?

Respond to this Question

First Name
School Subject
Your Answer

Similar Questions

More Related Questions

Post a New Question