Explore BrainMass

# Mathematics - Calculus - Maximizing Profit

Not what you're looking for? Search our solutions OR ask your own Custom question.

This content was COPIED from BrainMass.com - View the original, and get the already-completed solution here!

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?

https://brainmass.com/math/basic-calculus/mathematics-calculus-maximizing-profit-222606

#### 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 + ...

#### Solution Summary

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

\$2.49