Quantcast

A community for students. Sign up today!

Here's the question you clicked on:

55 members online
  • 0 replying
  • 0 viewing

soccergal12

  • 2 years ago

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

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

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

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

    so it would be 2500 ?

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

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

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

    im getting 7500 not 2500, double check your working

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

    you should get 0. u still stuck ?

  6. soccergal12
    • 2 years ago
    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.

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

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

  8. ganeshie8
    • 2 years ago
    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 ?

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

    yeah, it's asking for marginal profit

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

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

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

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

  12. soccergal12
    • 2 years ago
    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?

  13. ganeshie8
    • 2 years ago
    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 }

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

    25x is you cost function

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

    thank you!

  16. Not the answer you are looking for?
    Search for more explanations.

    Search OpenStudy
    • Attachments:

Ask your own question

Ask a Question
Find more explanations on OpenStudy

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.