anonymous
  • anonymous
Sales price for maximum profit: If your operation cost $1000 per week to run and each item cost $7 to process, find the revenue function, cost function, profit function and sales price which will bring in maximum profit, USING THE SAME VARIABLES (P,Q) AND DEMAND EQUATION AS ABOVE…THIS WHERE THE ABOVE PROBLEMS ANSWERS: Demand equation: q=-13.33p+480 Supply equation: 12.5p+70 Equilibrium Price: $15.87 I KNOW THE ANSWERS, BUT CANT REMEMBER THE PROCESS. -COST FUNCTION= C(P)=-93.33+4360 -REVENUE FUNCTION=R(P)=-13.33Pˆ2+480P -PROFIT FUNCTION=P(P)=13.33Pˆ2+5731.33P-4360. -SALES MAX PROFIT=$21.50
Mathematics
chestercat
  • chestercat
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anonymous
  • anonymous
I know revenue is R=pq=P(-13.33P+480)
anonymous
  • anonymous
I JUST NEED TO KNOW HOW TO GET MAXIMUM PROFIT!!! PLZ :D
anonymous
  • anonymous
I REMEMBER HOW...THX ANYONE WHO READ THIS :B

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