Maximize profit function calculus
Favorites|Homepage
Subscriptions | sitemap
HOME > Mathematics > Maximize profit function calculus

Maximize profit function calculus

[From: ] [author: ] [Date: 11-05-10] [Hit: ]
......
if the cost function for a firm is c(x)=8x-3 and the demand function is p=12-x, find the number of units of x that must be sold to maximize the profit function.

answer is x=2 but i cant figure out how to do it.

-
p=12-x
revenue=px=12x-x^2
marginal revenue=12-2x

cost=8x-3
marginal cost=8

max profit when marginal revenue = marginal cost

12-2x=8
=>
x=2
1
keywords: function,Maximize,profit,calculus,Maximize profit function calculus
New
Hot
© 2008-2010 http://www.science-mathematics.com . Program by zplan cms. Theme by wukong .