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 $ .

- anonymous

- schrodinger

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- anonymous

i found the price: p=(30-11x)*x

- anonymous

30x-11x^2- (8.8x^2+20x+2.5)

- anonymous

= 10x-19.8x^2-2.5

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## More answers

- anonymous

the i find the derivative: dp/dx and set it to zero.... i got x= .252525

- anonymous

then i tried to plug into c(x) but it's wrong :((

- anonymous

i got 8.05

- anonymous

##### 1 Attachment

- Mertsj

Isn't profit= revenue - cost?

- anonymous

yeah

- Mertsj

I got 6.87 for the price

- anonymous

how? it says its not correct..

- Mertsj

price = (30-11x)x

- anonymous

right.

- Mertsj

So if x = .25, price = (30-11/4).25=6.68

- Mertsj

All depends on how many significant digits you carry for x

- anonymous

i tried that one too

- anonymous

its wrong.

- Mertsj

cost per unit is c(x)/x

- anonymous

ok

- Mertsj

If you want price per unit shouldn't you divide the price by 1000 since x is 1000 units?

- anonymous

howd you get that

- Mertsj

and X in thousands of units.
I read the problem you posted.

- anonymous

yeah can you tell me where i went wrong?

- Mertsj

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.

- anonymous

whered you get 1000 from?

- Mertsj

What does x represent?

- anonymous

the price

- Mertsj

Read the problem. What does x represent.

- anonymous

thousands in units.

- Mertsj

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

- anonymous

okay... so i got x= .25 and i times that by 1000...

- anonymous

so whats the correct answer?

- anonymous

im getting it wrong.

- Mertsj

So if x = .25, price = (30-11/4).25=6.68 for 250 units.
6.68/250=668 cents/250= 3 cents per unit. Try that. How many chances do you get?

- anonymous

huh?

- Mertsj

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.

- anonymous

right.

- anonymous

i understand that part.

- Mertsj

What did you get for x?

- anonymous

555003.

- Mertsj

Well that is not what you posted earlier.

- anonymous

i plugged in 250 into c(x)

- anonymous

i dont know.

- anonymous

whats the answer then?

- anonymous

isn't it .252525 *1000 = x= 252.525

- Mertsj

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.

- anonymous

as many times.

- Mertsj

Did you try 3 cents?

- anonymous

yeah its wrong.

- Mertsj

I guess I can't help you then. Sorry.

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