Suppose a company's revenue function is given by and its cost function is given by , where is hundreds of units sold/produced, while and are in total dollars of revenue and cost, respectively.
A) Find a simplified experssion for the profit function
B) Find a simplified expression for the marginal profit function. (Be sure to use the proper variable in your answer.)
C) How many items (in hundreds) need to be sold to maximize profits? (Round your answer to two decimal places.)
Answer: hundred units must be sold.
A) Find a simplified experssion for the profit function
B) Find a simplified expression for the marginal profit function. (Be sure to use the proper variable in your answer.)
C) How many items (in hundreds) need to be sold to maximize profits? (Round your answer to two decimal places.)
Answer: hundred units must be sold.