A community for students. Sign up today!
Here's the question you clicked on:
 0 viewing
 one year 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 $ .
 one year 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 $ .

This Question is Closed

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

mathcalculus
 one year ago
Best ResponseYou've already chosen the best response.030x11x^2 (8.8x^2+20x+2.5)

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

Mertsj
 one year ago
Best ResponseYou've already chosen the best response.0So 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

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

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

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

Mertsj
 one year ago
Best ResponseYou've already chosen the best response.0So 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?

Mertsj
 one year ago
Best ResponseYou've already chosen the best response.0I 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.

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

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

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

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

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

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

Mertsj
 one year ago
Best ResponseYou've already chosen the best response.0I 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.

Mertsj
 one year ago
Best ResponseYou've already chosen the best response.0I guess I can't help you then. Sorry.
Ask your own question
Ask a QuestionFind 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
 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.