WidgCo is a company that produces and sells widgets. The marketing department de

Question

WidgCo is a company that produces and sells widgets. The marketing department determines that the price per widget (p), measured in dollars, and the daily demand for widgets (x) are related by the following demand equation: p(x) =408-6x. The cost of producing x widgets is given by the function C(x) =1150 + 72x. Find WidgCo's maximum daily profit. $4:162 $7:470 $4:947 $3:554 $6:936 $8:477 WidgCo is a company that produces and sells widgets. The marketing department determines that the price per widget (p), measured in dollars, and the daily demand for widgets (x) are related by the following demand equation: p(x) = 256-4x. The cost of producing x widgets is given by the function C(x) = 1150 + 16x. Find the production levels at which WidgCo breaks-even. Round your answers to the nearest widget. x = 1 and x = 59 x = 0 and x = 64 x = 4 and x = 82 x = ll and x = 109 x = 10 and x = 105 x = 5 and x = 55

Explanation / Answer

Profit is Revenue minus Cost or P(x) = R(x) - C(x) R(x)=p(x)*x =408x-6x^2 C(x)=1150+72x P(x)=408x-6x^2 - 1150-72x dP/dx=0 408 -12x-72=0 x=28 P(x)=3554 b)R(x)=256x-4x^2 C(x)=1150 + 16x P(x) = R(x) - C(x) P(x)=256x-4x^2 - 1150 + 16x p(x)=0 for break even C(x)=R(x)

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