Calculus Maximize Problems...
I don't really get the steps to take for these two problems. Thank you guys for your help! :D
1.) C(q)=q3–75q2+1875q+1070 for 0q50 and a price per unit of $500.
Round your answers to the nearest whole number.
a) What production level maximizes profit?
b) What is the total cost at this production level?
cost = $
c) What is the total revenue at this production level?
revenue = $
d) What is the total profit at this production level?
profit = $
2.) Suppose the cost function for producing gadgets is C(q)=004q2+5q+44.
At what production level is the maximal profit achieved if each item is sold for 7 dollars? Answer: items.
What is the maximum profit if each item is sold for 7 dollars? Answer: dollars.