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Unformatted text preview: P(n) = 6600 + 68n 2n 2 maximum profit set P’(n)=0 P’(n) = 68 4n = n = 17 Question asks how many people will max. profit # people = 50 + 17 = 67 people Option #2: Use x = # of people price per person: 200 2(x 50) (price goes down 2 for each person more than 50) revenue: R(x) = x [ 200 2(x 50) ] simplify: R(x) = 300x 2x 2 cost: C(x) = 6000 + 32x ($6000 is fixed and each person costs $32) profit: P(x) = 300x 2x 2 [6000 + 32x] simplify: P(x) = 2x 2 + 268x 6000 derivative: P'(x) = 4x + 268 = 0 x = 67 people will maximize profit...
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This note was uploaded on 02/21/2011 for the course MATH 408C taught by Professor Knopf during the Spring '10 term at University of Texas.
 Spring '10
 KNOPF

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