A community for students.
Here's the question you clicked on:
 0 viewing
anonymous
 5 years ago
The quantity demanded each month of the Walter Serkin recording of Beethoven's Moonlight Sonata, manufactured by Phonola Record Industries, is related to the price/compact disc. The equation
p=0.0004x+7
where p denotes the unit price in dollars and x is the number of discs demanded, relates the demand to the price. The total monthly cost (in dollars) for pressing and packaging xcopies of this classical recording is given by
C(x)=600+2x0.00001x^2
To maximize its profits, how many copies should Phonola produce each month? Hint: The revenue is R(x) = px, and the profi
anonymous
 5 years ago
The quantity demanded each month of the Walter Serkin recording of Beethoven's Moonlight Sonata, manufactured by Phonola Record Industries, is related to the price/compact disc. The equation p=0.0004x+7 where p denotes the unit price in dollars and x is the number of discs demanded, relates the demand to the price. The total monthly cost (in dollars) for pressing and packaging xcopies of this classical recording is given by C(x)=600+2x0.00001x^2 To maximize its profits, how many copies should Phonola produce each month? Hint: The revenue is R(x) = px, and the profi

This Question is Closed

anonymous
 5 years ago
Best ResponseYou've already chosen the best response.0\[Profit = Revenue Cost\]So,\[P=pxC=(0.0004x+7)x(600+2x0.00001x^2)\]

anonymous
 5 years ago
Best ResponseYou've already chosen the best response.0You expand the righthand side out and take the derivative with respect to x. You get\[P'(x)=50.00078x\]Extrema within the domain occur when the derivative is zero. SO set P'(x)=0 and solve for x. You should get 6410.25641...

anonymous
 5 years ago
Best ResponseYou've already chosen the best response.0You can argue this yields a maximum since the coefficient of the quadratic of the profit function, P, is negative (the quadratic is concave down).
Ask your own question
Sign UpFind more explanations on OpenStudy
Your question is ready. Sign up for free to start getting answers.
spraguer
(Moderator)
5
→ View Detailed Profile
is replying to Can someone tell me what button the professor is hitting...
23
 Teamwork 19 Teammate
 Problem Solving 19 Hero
 Engagement 19 Mad Hatter
 You have blocked this person.
 ✔ You're a fan Checking fan status...
Thanks for being so helpful in mathematics. If you are getting quality help, make sure you spread the word about OpenStudy.