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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
 one year ago
 one year ago
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
 one year ago
 one year ago

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javawarriorBest ResponseYou've already chosen the best response.0
isnt it just R(50)  25*50 ?
 one year ago

soccergal12Best ResponseYou've already chosen the best response.0
so it would be 2500 ?
 one year ago

javawarriorBest ResponseYou've already chosen the best response.0
yep if marginal profit is total revenue  cost of making it
 one year ago

javawarriorBest ResponseYou've already chosen the best response.0
im getting 7500 not 2500, double check your working
 one year ago

ganeshie8Best ResponseYou've already chosen the best response.1
you should get 0. u still stuck ?
 one year ago

soccergal12Best 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.
 one year ago

soccergal12Best ResponseYou've already chosen the best response.0
i mean ((50)^2 + 125(50))  25(50)
 one year ago

ganeshie8Best ResponseYou've already chosen the best response.1
what you computing is overall profit. in the question they are asking about marginal profit right ?
 one year ago

soccergal12Best ResponseYou've already chosen the best response.0
yeah, it's asking for marginal profit
 one year ago

soccergal12Best ResponseYou've already chosen the best response.0
does that mean, it should be dP/dt = dR/dt  dC/dt ?
 one year ago

ganeshie8Best ResponseYou've already chosen the best response.1
exactly.. you are correct. marginal something means, derivative something
 one year ago

soccergal12Best 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?
 one year ago

ganeshie8Best 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 }
 one year ago

ganeshie8Best ResponseYou've already chosen the best response.1
25x is you cost function
 one year ago
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