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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 $ .
 9 months ago
 9 months 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 $ .
 9 months ago
 9 months ago

This Question is Closed

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

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

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

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

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

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

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

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

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

mathcalculus Group TitleBest ResponseYou've already chosen the best response.0
right.
 9 months ago

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

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

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

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

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

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

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

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

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

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

mathcalculus Group TitleBest ResponseYou've already chosen the best response.0
the price
 9 months ago

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

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

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

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

mathcalculus Group TitleBest ResponseYou've already chosen the best response.0
im getting it wrong.
 9 months 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?
 9 months 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.
 9 months ago

mathcalculus Group TitleBest ResponseYou've already chosen the best response.0
right.
 9 months ago

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

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

mathcalculus Group TitleBest ResponseYou've already chosen the best response.0
555003.
 9 months ago

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

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

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

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

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

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

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

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

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