Purchase Solution

# Mathematics - Calculus - Maximizing Profit

Not what you're looking for?

Profit -

A manufacturer has been selling lamps at \$6 apiece, and at this price, consumers have been buying 3,000 lamps per month. The manufacturer wishes to raise the price and estimates that for each \$1 increase in price, 1,000 fewer lamps will be sold each month. The manufacturer can produce the lamps at a cost of \$4 per lamp. At what price should the manufacturer sell the lamps to generate the greatest possible profit?

##### Solution Summary

A Complete, Neat and Step-by-step Solution is provided.

##### Solution Preview

Let the manufacturer make x units of one dollar increase in price. Then his new revenue will

be R(x) = cost x quantity = (6 + ...

##### Multiplying Complex Numbers

This is a short quiz to check your understanding of multiplication of complex numbers in rectangular form.

##### Exponential Expressions

In this quiz, you will have a chance to practice basic terminology of exponential expressions and how to evaluate them.

##### Graphs and Functions

This quiz helps you easily identify a function and test your understanding of ranges, domains , function inverses and transformations.

##### Geometry - Real Life Application Problems

Understanding of how geometry applies to in real-world contexts