max profit & max revenue
Sue's Submarines has found that the monthly ddemand for their submarines is given by p(x)= 60000-5x ALL OVER 10000, and the cost of making x submarines is C(x)=3000+1.2x . Find the maximum profit and maximum revenue measured in dollars. Explain their significance.
Could you help me out on this question please?
p(x) = 6 - .0005x
The Revenue R(x) = xp(x) = 6x - .0005*x^2
Thr Profit is P(x) = R(x) - C(x) = 6x - .0005*x^2 - 3000 - 1.2x
P(x) = 4.8x -.0005x^2 -3000
Both the max profit and max revenue can be found by setting the respective derivatives equal to 0.