To compete with a major fast-food chain, a local restaurant introduced a new menu item called the Scorching Hot Burrito Gigante. The restaurant determined that their total monthly revenue (in dollars) from selling this new menu item is given by R(x) = -0.0008x? + 17x where x denotes the number of items sold. Similarly, they determined that their total monthly cost (in dollars) for this menu item is given by C(x) = 20000 + 2x – 0.0002x?. a) Find the profit function P(x). b) Find the marginal profit function P'(x), which is the derivative of P(x). c) What is the largest possible profit that the restaurant could make in one month?
To compete with a major fast-food chain, a local restaurant introduced a new menu item called the Scorching Hot Burrito Gigante. The restaurant determined that their total monthly revenue (in dollars) from selling this new menu item is given by R(x) = -0.0008x? + 17x where x denotes the number of items sold. Similarly, they determined that their total monthly cost (in dollars) for this menu item is given by C(x) = 20000 + 2x – 0.0002x?. a) Find the profit function P(x). b) Find the marginal profit function P'(x), which is the derivative of P(x). c) What is the largest possible profit that the restaurant could make in one month?
Algebra for College Students
10th Edition
ISBN:9781285195780
Author:Jerome E. Kaufmann, Karen L. Schwitters
Publisher:Jerome E. Kaufmann, Karen L. Schwitters
Chapter8: Functions
Section8.7: Direct And Inverse Variation
Problem 36PS
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