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To find the maximum profit, we take the derivative of the profit function P(x) and set it equal to 0:
P'(x) = 200 - 80 - 0.006x = 0
Solving for x gives x = 25,000 units.
Since the production capacity is 30,000 units, the firm should manufacture and sell 25,000 units to maximize profit.
To find the maximum profit, we take the derivative of the profit function P(x) and set it equal to 0:
P'(x) = 200 - 80 - 0.006x = 0
Solving for x gives x = 25,000 units.
Since the production capacity is 30,000 units, the firm should manufacture and sell 25,000 units to maximize profit.
To find the maximum profit, we take the derivative of the profit function P(x) and set it equal to 0:
P'(x) = 200 - 80 - 0.006x = 0
Solving for x gives x = 25,000 units.
Since the production capacity is 30,000 units, the firm should manufacture and sell 25,000 units to maximize profit.
maxima and minima) of a function, known collectively as extrema (singular: extremum), are the largest and smallest value that the function takes at a point either within a given neighborhood (local or relativeextremum) or on the function domain in its entirety (global or absolute extremum).. Extrema
1. The plural of Minimum is Minima
2. The plural of Maximum is Maxima 3 Together they are called Extrema . .
But not all flat parts are maxima or minima, we can
also have a saddle point Definition : Let f be defined on an interval I containing c 1. f (c) is the minimum of f on I if f (c) f ( x) for all x in I 2. f (c) is the maximum of f on I if f (c) f ( x) for all x in I
The minimum and maximum of a function an interval are
extreme values, or extrema, of the function on the interval . The minimum and maximum of a function an interval are are also called the absulute minimum and absolute maximum, of the function on the interval , respectively. Critical point : Critical point of function f is the point where the derivative of the function is either 0 or undefined .ie f / (c ) = 0 or f / (c) undefined. Where c is a critical number of f
Theorem : Relative extrema occur only at a critical point
Finding critical point : 1. Find f / ( x) 2. Equate f / ( x) = 0 3. Caculate x 1. Verify that the function is continuous on the interval [a,b]. 2. Find all critical points of f(x) that are in the interval [a,b]. This makes sense if you think about it. Since we are only interested in what the function is doing in this interval we don’t care about critical points that fall outside the interva 3. Evaluate the function at the critical points found in step 1 and the end points. 3. Identify the absolute extrema. Problems : Find the extrema of the function in the closed interval Function interval 1. f ( x) = 3 x 4 − 4 x 3 − 1, 2 2. f ( x) = 2(3 − x) − 1, 2 3. f (t ) = 2t 3 + 3t 2 − 12t + 4 − 4, 2
Similar problems on 170
Problems :
Example: A ball is thrown in the air. Its height at any time t is
given by: h = 3 + 14t − 5t2 What is its maximum height? Power 43(171) :The formula for the power output P of battery is P = VI − RI 2
Where V is the electromotive force in volts, Ris the
resistance in ohms, and I is the current in amperes. Find the current that corresponds to a maximum value of P in a battery for which V = 12 volts and R = 0.5 ohm ( Assume that a 15 amp fuse bounds the output in the interval 0 I 15 Inventory cost 44(171) : A retailer has determined that the cost Cfor the ordering and storing x units of product is 300000 C = 2x + , 1 x 300 x The delivery truck can bring at most 300 units per order. Find the order size that will minimize cost Profit A liquid form of antibiotic manufactured by a pharmaceutical firm is sold in bulk at a price of$200 per unit. If the total production cost (in dollars) for x units is C ( x) = 500,000 + 80 x + 0.003x 2 and if the production capacity of the firm is at most 30,000 units in a specified time, how many units of antibiotic must be manufactured and sold in that time to maximize the profit? Solution: Since the total revenue for selling x units is R( x) = 200 x the profit P(x) on x units will be P( x) = R( x) − C ( x) = 200 x − (500,000 + 80 x + 0.003x 2 ) Since the production capacity is at most 30,000 units so x must lie in the interval 0, 30000