Got Homework?
Connect with other students for help. It's a free community.
Here's the question you clicked on:
 0 viewing
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 $ .
 5 months ago
 5 months ago
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 $ .
 5 months ago
 5 months ago

This Question is Closed

mathcalculusBest ResponseYou've already chosen the best response.0
i found the price: p=(3011x)*x
 5 months ago

mathcalculusBest ResponseYou've already chosen the best response.0
30x11x^2 (8.8x^2+20x+2.5)
 5 months ago

mathcalculusBest ResponseYou've already chosen the best response.0
= 10x19.8x^22.5
 5 months ago

mathcalculusBest ResponseYou've already chosen the best response.0
the i find the derivative: dp/dx and set it to zero.... i got x= .252525
 5 months ago

mathcalculusBest ResponseYou've already chosen the best response.0
then i tried to plug into c(x) but it's wrong :((
 5 months ago

MertsjBest ResponseYou've already chosen the best response.0
Isn't profit= revenue  cost?
 5 months ago

MertsjBest ResponseYou've already chosen the best response.0
I got 6.87 for the price
 5 months ago

mathcalculusBest ResponseYou've already chosen the best response.0
how? it says its not correct..
 5 months ago

MertsjBest ResponseYou've already chosen the best response.0
So if x = .25, price = (3011/4).25=6.68
 5 months ago

MertsjBest ResponseYou've already chosen the best response.0
All depends on how many significant digits you carry for x
 5 months ago

mathcalculusBest ResponseYou've already chosen the best response.0
i tried that one too
 5 months ago

MertsjBest ResponseYou've already chosen the best response.0
cost per unit is c(x)/x
 5 months ago

MertsjBest 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?
 5 months ago

mathcalculusBest ResponseYou've already chosen the best response.0
howd you get that
 5 months ago

MertsjBest ResponseYou've already chosen the best response.0
and X in thousands of units. I read the problem you posted.
 5 months ago

mathcalculusBest ResponseYou've already chosen the best response.0
yeah can you tell me where i went wrong?
 5 months ago

MertsjBest 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.
 5 months ago

mathcalculusBest ResponseYou've already chosen the best response.0
whered you get 1000 from?
 5 months ago

MertsjBest ResponseYou've already chosen the best response.0
Read the problem. What does x represent.
 5 months ago

mathcalculusBest ResponseYou've already chosen the best response.0
thousands in units.
 5 months ago

MertsjBest 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
 5 months ago

mathcalculusBest ResponseYou've already chosen the best response.0
okay... so i got x= .25 and i times that by 1000...
 5 months ago

mathcalculusBest ResponseYou've already chosen the best response.0
so whats the correct answer?
 5 months ago

mathcalculusBest ResponseYou've already chosen the best response.0
im getting it wrong.
 5 months ago

MertsjBest 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?
 5 months ago

MertsjBest 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.
 5 months ago

mathcalculusBest ResponseYou've already chosen the best response.0
i understand that part.
 5 months ago

MertsjBest ResponseYou've already chosen the best response.0
What did you get for x?
 5 months ago

MertsjBest ResponseYou've already chosen the best response.0
Well that is not what you posted earlier.
 5 months ago

mathcalculusBest ResponseYou've already chosen the best response.0
i plugged in 250 into c(x)
 5 months ago

mathcalculusBest ResponseYou've already chosen the best response.0
whats the answer then?
 5 months ago

mathcalculusBest ResponseYou've already chosen the best response.0
isn't it .252525 *1000 = x= 252.525
 5 months ago

MertsjBest 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.
 5 months ago

MertsjBest ResponseYou've already chosen the best response.0
I guess I can't help you then. Sorry.
 5 months ago
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
 Engagement 19 Mad Hatter
 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.