Maurice Tutor

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    Argosy University/ Phoniex University/
    Nov-2005 - Oct-2011

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    Phoniex University
    Oct-2001 - Nov-2016

Category > Management Posted 03 Oct 2017 My Price 8.00

selling price

2-15. A company produces and sells a consumer product and is able to control the demand for the product by varying the selling price. The approximate relationship between price and demand is

 

p = $38 +

2,700

−

5,000

,  for D > 1,

D

D2

where p is the price per unit in dollars and D is the demand per month. The company is seeking to maximize its profit. The fixed cost is $1,000 per month and the variable cost (cv) is $40 per unit. (2.2)

 

           What is the number of units that should be produced and sold each month to maximize profit?

 

           Show that your answer to Part (a) maximizes profit.

 

2-16. An electric power plant uses solid waste for   fuel   in   the   production   of   electricity.   The cost  Y in  dollars  per  hour  to  produce  electricity  is

Y = 12 + 0.3X + 0.27 X2 , where X is in megawatts. Revenue in dollars per hour from the sale of electricity

 

is 15X −0.2X2 . Find the value of X that gives maximum profit. (2.2)

Answers

Maurice Tutor
(5)
Status NEW Posted 03 Oct 2017 11:10 PM My Price 8.00

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