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College maths question (basic enough!)

  • 26-04-2009 12:16pm
    #1
    Registered Users, Registered Users 2 Posts: 2,191 ✭✭✭


    A certain company produces digital cameras. The price-demand function for the cam-
    eras is
    p(x) = 95.4 - 6x
    where p(x) is the wholesale price per camera at which x million cameras can be sold.
    Suppose that the cost function is c(x) = 150 + 15.1x. Find the profit function, and determine the number of cameras that should be sold for maximum profit.




    Am I right in thinking the profit function is p(x)(x)-c(x)?

    Thanks


Comments

  • Registered Users, Registered Users 2 Posts: 2,481 ✭✭✭Fremen


    Yes, profit is sale price minus production cost. That's not really mathematics though.


  • Registered Users, Registered Users 2 Posts: 2,191 ✭✭✭NewApproach


    Yes but do you have to multiply the sale price by x to get the total revenue?


  • Registered Users, Registered Users 2 Posts: 2,191 ✭✭✭NewApproach


    I got the previous one...

    Another one now though;

    9000=3000(1+ r/4)^120

    Got down as far as ln(1+ r/4)=0.009155 (correct?)

    Now what?! :confused::confused::confused:

    Thanks!


  • Registered Users, Registered Users 2 Posts: 1,285 ✭✭✭DancingDaisy


    Are you trying to solve for r?


  • Registered Users, Registered Users 2 Posts: 2,191 ✭✭✭NewApproach


    Are you trying to solve for r?

    Yes sorry I should have said that:o

    Have a made a balls of it?

    Orig Q is: If €3000 is to grow to €9000 over a 10-year period, at what annual rate of interest must it be invested, if compounding is quarterly?

    Edit: OOPS just realised I made a stupid silly mistake, should be 40 compounding periods not 120 yes? :o

    Still, I dont get what to do after!!!


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  • Closed Accounts Posts: 6,081 ✭✭✭LeixlipRed


    If you're trying to solve for r you need to use the fact that the exponential and natural log functions are inverses of each other and get the exponential of both sides.


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