Unformatted text preview: (a) Let p denote the price per job, and x the number of jobs per month. Assuming a linear demand curve, write the formula for the demand curve. (b) Write the formula for the monthly revenue function. (c) Suppose the company has ﬁxed costs of $500 per month and the vari-able cost is $30 per job. Write the formula for the monthly proﬁt function. Find the price per job that will maximize the company’s monthly proﬁt. (5) (15 points) Suppose a ﬁrm’s proﬁt from producing and selling x units of a product is given by P ( x ) = 32 x 2-9 x 3 thousands of dollars. (a) Find the marginal proﬁt, dP dx . (b) The production level at t weeks from the present is expected to be x = 4 + 3 t . Find the time rate of change of proﬁt, dP dt . (c) How fast (with respect to time) are proﬁts changing when t = 4? 1...
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- Spring '08
- Calculus, $160, $500, $150, $30, separate answer sheets