80.2K

Verified Solution

Link Copied!

1. [50 marks] Assume that the revenue from selling x millions of units of product A (in millions of pounds) is given by R(x) = ln(50x + 1) and the cost of producing these x millions of units of product A (in millions of pounds) is given by C(x) = 10x2. a. [26 marks] Find the number of units that maximizes the profit. Explain each stage in your answer. b. [8 marks] Check your answer to sub-question 1.a using Mathematica. Submit a screenshot of your code line/s and answer. C. [8 marks] Use Mathematica to find the product number, which is the closest to x = 200,000, for which the profit is 2 million. Submit a screenshot of your code and Mathematica's answer. d. [8 marks] Use Mathematica to calculate the third derivative of the profit function. Submit a screenshot of your code and Mathematica's answer. 1. [50 marks] Assume that the revenue from selling x millions of units of product A (in millions of pounds) is given by R(x) = ln(50x + 1) and the cost of producing these x millions of units of product A (in millions of pounds) is given by C(x) = 10x2. a. [26 marks] Find the number of units that maximizes the profit. Explain each stage in your answer. b. [8 marks] Check your answer to sub-question 1.a using Mathematica. Submit a screenshot of your code line/s and answer. C. [8 marks] Use Mathematica to find the product number, which is the closest to x = 200,000, for which the profit is 2 million. Submit a screenshot of your code and Mathematica's answer. d. [8 marks] Use Mathematica to calculate the third derivative of the profit function. Submit a screenshot of your code and Mathematica's

Answer & Explanation Solved by verified expert

See Answer