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mathcalculus
Group Title
can someone help me where I'm going wrong? :(
(1 pt)
A producer finds that demand for his commodity obeys a linear demand equation , p+11x=30 where P is in dollars and X in thousands of units. If the cost equation is c(x)=8.8x^2+20x+2.5 , what price should be charged to maximize the profit?
The price to maximize the profit is $ .
 one year ago
 one year ago
mathcalculus Group Title
can someone help me where I'm going wrong? :( (1 pt) A producer finds that demand for his commodity obeys a linear demand equation , p+11x=30 where P is in dollars and X in thousands of units. If the cost equation is c(x)=8.8x^2+20x+2.5 , what price should be charged to maximize the profit? The price to maximize the profit is $ .
 one year ago
 one year ago

This Question is Closed

mathcalculus Group TitleBest ResponseYou've already chosen the best response.0
i found the price: p=(3011x)*x
 one year ago

mathcalculus Group TitleBest ResponseYou've already chosen the best response.0
30x11x^2 (8.8x^2+20x+2.5)
 one year ago

mathcalculus Group TitleBest ResponseYou've already chosen the best response.0
= 10x19.8x^22.5
 one year ago

mathcalculus Group TitleBest ResponseYou've already chosen the best response.0
the i find the derivative: dp/dx and set it to zero.... i got x= .252525
 one year ago

mathcalculus Group TitleBest ResponseYou've already chosen the best response.0
then i tried to plug into c(x) but it's wrong :((
 one year ago

mathcalculus Group TitleBest ResponseYou've already chosen the best response.0
i got 8.05
 one year ago

Mertsj Group TitleBest ResponseYou've already chosen the best response.0
Isn't profit= revenue  cost?
 one year ago

Mertsj Group TitleBest ResponseYou've already chosen the best response.0
I got 6.87 for the price
 one year ago

mathcalculus Group TitleBest ResponseYou've already chosen the best response.0
how? it says its not correct..
 one year ago

Mertsj Group TitleBest ResponseYou've already chosen the best response.0
price = (3011x)x
 one year ago

mathcalculus Group TitleBest ResponseYou've already chosen the best response.0
right.
 one year ago

Mertsj Group TitleBest ResponseYou've already chosen the best response.0
So if x = .25, price = (3011/4).25=6.68
 one year ago

Mertsj Group TitleBest ResponseYou've already chosen the best response.0
All depends on how many significant digits you carry for x
 one year ago

mathcalculus Group TitleBest ResponseYou've already chosen the best response.0
i tried that one too
 one year ago

mathcalculus Group TitleBest ResponseYou've already chosen the best response.0
its wrong.
 one year ago

Mertsj Group TitleBest ResponseYou've already chosen the best response.0
cost per unit is c(x)/x
 one year ago

Mertsj Group TitleBest ResponseYou've already chosen the best response.0
If you want price per unit shouldn't you divide the price by 1000 since x is 1000 units?
 one year ago

mathcalculus Group TitleBest ResponseYou've already chosen the best response.0
howd you get that
 one year ago

Mertsj Group TitleBest ResponseYou've already chosen the best response.0
and X in thousands of units. I read the problem you posted.
 one year ago

mathcalculus Group TitleBest ResponseYou've already chosen the best response.0
yeah can you tell me where i went wrong?
 one year ago

Mertsj Group TitleBest ResponseYou've already chosen the best response.0
Well, I am not sure but I would try dividing the answers we got by 1000 and see if that is the price per unit.
 one year ago

mathcalculus Group TitleBest ResponseYou've already chosen the best response.0
whered you get 1000 from?
 one year ago

Mertsj Group TitleBest ResponseYou've already chosen the best response.0
What does x represent?
 one year ago

mathcalculus Group TitleBest ResponseYou've already chosen the best response.0
the price
 one year ago

Mertsj Group TitleBest ResponseYou've already chosen the best response.0
Read the problem. What does x represent.
 one year ago

mathcalculus Group TitleBest ResponseYou've already chosen the best response.0
thousands in units.
 one year ago

Mertsj Group TitleBest ResponseYou've already chosen the best response.0
So when you got x = .25 that meant .25 thousands of units of 250 units. So when you got 6.87 for the price of x units that was for 1000 units. So each unit should be sold for 7 cents
 one year ago

mathcalculus Group TitleBest ResponseYou've already chosen the best response.0
okay... so i got x= .25 and i times that by 1000...
 one year ago

mathcalculus Group TitleBest ResponseYou've already chosen the best response.0
so whats the correct answer?
 one year ago

mathcalculus Group TitleBest ResponseYou've already chosen the best response.0
im getting it wrong.
 one year ago

Mertsj Group TitleBest ResponseYou've already chosen the best response.0
So if x = .25, price = (3011/4).25=6.68 for 250 units. 6.68/250=668 cents/250= 3 cents per unit. Try that. How many chances do you get?
 one year ago

Mertsj Group TitleBest ResponseYou've already chosen the best response.0
I think the part you can't get a handle on is that x is in thousands of units. So if x is 1 that is 1000 units. If x = 2, that is 2000 units. If x = .25 that is 250 units.
 one year ago

mathcalculus Group TitleBest ResponseYou've already chosen the best response.0
right.
 one year ago

mathcalculus Group TitleBest ResponseYou've already chosen the best response.0
i understand that part.
 one year ago

Mertsj Group TitleBest ResponseYou've already chosen the best response.0
What did you get for x?
 one year ago

mathcalculus Group TitleBest ResponseYou've already chosen the best response.0
555003.
 one year ago

Mertsj Group TitleBest ResponseYou've already chosen the best response.0
Well that is not what you posted earlier.
 one year ago

mathcalculus Group TitleBest ResponseYou've already chosen the best response.0
i plugged in 250 into c(x)
 one year ago

mathcalculus Group TitleBest ResponseYou've already chosen the best response.0
i dont know.
 one year ago

mathcalculus Group TitleBest ResponseYou've already chosen the best response.0
whats the answer then?
 one year ago

mathcalculus Group TitleBest ResponseYou've already chosen the best response.0
isn't it .252525 *1000 = x= 252.525
 one year ago

Mertsj Group TitleBest ResponseYou've already chosen the best response.0
I don't know for sure. I wanted you to try 3 cents and I asked you how many chances you get at entering the correct answer and you didn't answer me.
 one year ago

mathcalculus Group TitleBest ResponseYou've already chosen the best response.0
as many times.
 one year ago

Mertsj Group TitleBest ResponseYou've already chosen the best response.0
Did you try 3 cents?
 one year ago

mathcalculus Group TitleBest ResponseYou've already chosen the best response.0
yeah its wrong.
 one year ago

Mertsj Group TitleBest ResponseYou've already chosen the best response.0
I guess I can't help you then. Sorry.
 one year ago
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