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anonymous
 5 years ago
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+5731.33P4360.
SALES MAX PROFIT=$21.50
anonymous
 5 years ago
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+5731.33P4360. SALES MAX PROFIT=$21.50

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anonymous
 5 years ago
Best ResponseYou've already chosen the best response.0I know revenue is R=pq=P(13.33P+480)

anonymous
 5 years ago
Best ResponseYou've already chosen the best response.0I JUST NEED TO KNOW HOW TO GET MAXIMUM PROFIT!!! PLZ :D

anonymous
 5 years ago
Best ResponseYou've already chosen the best response.0I REMEMBER HOW...THX ANYONE WHO READ THIS :B
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