Quantcast

Got Homework?

Connect with other students for help. It's a free community.

  • across
    MIT Grad Student
    Online now
  • laura*
    Helped 1,000 students
    Online now
  • Hero
    College Math Guru
    Online now

Here's the question you clicked on:

55 members online
  • 0 replying
  • 0 viewing

soccergal12

Sarah's flower shop gets very busy on V-day, 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

  • one year ago
  • one year ago

  • This Question is Closed
  1. javawarrior
    Best Response
    You've already chosen the best response.
    Medals 0

    isnt it just R(50) - 25*50 ?

    • one year ago
  2. soccergal12
    Best Response
    You've already chosen the best response.
    Medals 0

    so it would be 2500 ?

    • one year ago
  3. javawarrior
    Best Response
    You've already chosen the best response.
    Medals 0

    yep if marginal profit is total revenue - cost of making it

    • one year ago
  4. javawarrior
    Best Response
    You've already chosen the best response.
    Medals 0

    im getting 7500 not 2500, double check your working

    • one year ago
  5. ganeshie8
    Best Response
    You've already chosen the best response.
    Medals 1

    you should get 0. u still stuck ?

    • one year ago
  6. soccergal12
    Best Response
    You've already chosen the best response.
    Medals 0

    i got 7500, not zero. i put ((-50)^2 + 125(5)) - 25(50) in my calculator to get 7500.

    • one year ago
  7. soccergal12
    Best Response
    You've already chosen the best response.
    Medals 0

    i mean ((-50)^2 + 125(50)) - 25(50)

    • one year ago
  8. ganeshie8
    Best Response
    You've already chosen the best response.
    Medals 1

    what you computing is overall profit. in the question they are asking about marginal profit right ?

    • one year ago
  9. soccergal12
    Best Response
    You've already chosen the best response.
    Medals 0

    yeah, it's asking for marginal profit

    • one year ago
  10. soccergal12
    Best Response
    You've already chosen the best response.
    Medals 0

    does that mean, it should be dP/dt = dR/dt - dC/dt ?

    • one year ago
  11. ganeshie8
    Best Response
    You've already chosen the best response.
    Medals 1

    exactly.. you are correct. marginal something means, derivative something

    • one year ago
  12. soccergal12
    Best Response
    You've already chosen the best response.
    Medals 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?

    • one year ago
  13. ganeshie8
    Best Response
    You've already chosen the best response.
    Medals 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 }

    • one year ago
  14. ganeshie8
    Best Response
    You've already chosen the best response.
    Medals 1

    25x is you cost function

    • one year ago
  15. soccergal12
    Best Response
    You've already chosen the best response.
    Medals 0

    thank you!

    • one year ago
    • Attachments:

See more questions >>>

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
  • 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.

This is the testimonial you wrote.
You haven't written a testimonial for Owlfred.