Results 1 to 2 of 2

Math Help - DEMAND EQUATION & REVENUE help please

  1. #1
    Newbie
    Joined
    May 2009
    Posts
    1

    DEMAND EQUATION & REVENUE help please

    Here is the problem:

    Demand Equation: p=-x+15x
    x= number of toy guns sold (thousands)
    p= pricer per toy gun

    c(x)=5x is the cost to produce x amount (thousands) of toy guns.

    1. Find the revenue of the function & profit
    2. How many toy guns needed to maximize profit?

    THANKS SO MUCH
    Follow Math Help Forum on Facebook and Google+

  2. #2
    Member
    Joined
    Mar 2008
    Posts
    182
    Quote Originally Posted by Amylinh View Post
    Here is the problem:

    Demand Equation: p=-x+15x
    x= number of toy guns sold (thousands)
    p= pricer per toy gun

    c(x)=5x is the cost to produce x amount (thousands) of toy guns.

    1. Find the revenue of the function & profit
    2. How many toy guns needed to maximize profit?

    THANKS SO MUCH
    Revenue = Amount sold * Cost
    R(x) = x*(p)
    (Your 'p' is wrong btw)

    Profit = Revenue - Cost

    To maximise profit you need to differentiate your profit equation and let it equal 0.
    Follow Math Help Forum on Facebook and Google+

Similar Math Help Forum Discussions

  1. Demand and Revenue
    Posted in the Calculus Forum
    Replies: 1
    Last Post: October 24th 2011, 03:20 AM
  2. [SOLVED] How to get demand equation
    Posted in the Business Math Forum
    Replies: 1
    Last Post: February 28th 2011, 01:51 AM
  3. Demand, Revenue, Maximize
    Posted in the Calculus Forum
    Replies: 1
    Last Post: April 27th 2010, 04:12 PM
  4. Replies: 1
    Last Post: November 24th 2009, 01:43 PM
  5. Demand Equation
    Posted in the Business Math Forum
    Replies: 2
    Last Post: September 8th 2009, 01:31 AM

Search Tags


/mathhelpforum @mathhelpforum