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soccergal12
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Sarah's flower shop gets very busy on Vday, but they don't always sell out. Sarah knows that she can sell 50 rose bouquets at a price of $75 each, but she can sell 60 if she drops the price down to $65 each.
(a) find the demand function p(x) .. assume it's linear.
(b) find the revenue function R(x).
(c) find for which value(s) of x the marginal revenue equals to 0
(d) suppose each bouquet costs Sarah $25 to make. find the marginal profit for x = 50. what does this value mean?
I found the demand function : p(x) = x + 125
And the Revenue function : R(x) = x^2 + 125x
and found the marginal revnue: x = 125/2 rose bouquets
i don't get how to do part d
 2 years ago
 2 years ago
soccergal12 Group Title
Sarah's flower shop gets very busy on Vday, but they don't always sell out. Sarah knows that she can sell 50 rose bouquets at a price of $75 each, but she can sell 60 if she drops the price down to $65 each. (a) find the demand function p(x) .. assume it's linear. (b) find the revenue function R(x). (c) find for which value(s) of x the marginal revenue equals to 0 (d) suppose each bouquet costs Sarah $25 to make. find the marginal profit for x = 50. what does this value mean? I found the demand function : p(x) = x + 125 And the Revenue function : R(x) = x^2 + 125x and found the marginal revnue: x = 125/2 rose bouquets i don't get how to do part d
 2 years ago
 2 years ago

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javawarrior Group TitleBest ResponseYou've already chosen the best response.0
isnt it just R(50)  25*50 ?
 2 years ago

soccergal12 Group TitleBest ResponseYou've already chosen the best response.0
so it would be 2500 ?
 2 years ago

javawarrior Group TitleBest ResponseYou've already chosen the best response.0
yep if marginal profit is total revenue  cost of making it
 2 years ago

javawarrior Group TitleBest ResponseYou've already chosen the best response.0
im getting 7500 not 2500, double check your working
 2 years ago

ganeshie8 Group TitleBest ResponseYou've already chosen the best response.1
you should get 0. u still stuck ?
 2 years ago

soccergal12 Group TitleBest ResponseYou've already chosen the best response.0
i got 7500, not zero. i put ((50)^2 + 125(5))  25(50) in my calculator to get 7500.
 2 years ago

soccergal12 Group TitleBest ResponseYou've already chosen the best response.0
i mean ((50)^2 + 125(50))  25(50)
 2 years ago

ganeshie8 Group TitleBest ResponseYou've already chosen the best response.1
what you computing is overall profit. in the question they are asking about marginal profit right ?
 2 years ago

soccergal12 Group TitleBest ResponseYou've already chosen the best response.0
yeah, it's asking for marginal profit
 2 years ago

soccergal12 Group TitleBest ResponseYou've already chosen the best response.0
does that mean, it should be dP/dt = dR/dt  dC/dt ?
 2 years ago

ganeshie8 Group TitleBest ResponseYou've already chosen the best response.1
exactly.. you are correct. marginal something means, derivative something
 2 years ago

soccergal12 Group TitleBest ResponseYou've already chosen the best response.0
okay, i used the original profit function: p(x) x +125 to get the derivative: p^1(x) = 1 ; so from this function, we know that the marginal profit is zero ? because you cannot plug in 50 for x, because there is no x variable in the derivative?
 2 years ago

ganeshie8 Group TitleBest ResponseYou've already chosen the best response.1
dP/dt = dR/dt  dC/dt your above equation is right. just take: (derivative of REVENUE)  (derivative of COST) that comes like : d/dx { R(x) }  d/dx { 25x }
 2 years ago

ganeshie8 Group TitleBest ResponseYou've already chosen the best response.1
25x is you cost function
 2 years ago

soccergal12 Group TitleBest ResponseYou've already chosen the best response.0
thank you!
 2 years ago
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