Homework SourseThe annual revenue and cost functions for a manufacturer of
The annual revenue and cost functions for a manufacturer of grandfather clocks are approximately R=520x - 0.03x^2 and C(x)=120x+100,000, where x denotes the number of clocks made. What is the maximum annual profit?
Solution
d(R-C)/dx=0 x=10667 profit=520*10667-0.03*10667^2-(120*10667+100000) =753253.33
