Ok, seems like I had the first part correct already.
Total copies to maximize is 400, total profit to maximize is $9600
For x > 400. If the number of books was 401, then the profit function would be:
29.98-6=$23.98x (will give me my total profit)
Total copies to maximize is 401, total...
Ok, so it would be. All I need are the formulas for profit function. The first profit function is for 400 copies or less and the second profit function is for greater than 400 copies. I'm also taking into the prices $30 and a decrease of $0.02 for each extra book over 400 copies.
P(x) = (x ≤...
This is what I have so far. I'm confused with what to do when the problem says more or less.
P(x)= (400+30x)(400-.02x) - 6x
To find the maximium profit I know to just find the first derivative of the profit function.
1. A publisher wants to dispose books. For 400 copies or less the price is $30 per book. For orders of more than 400 the price of each book is dropped by 2 cents for each extra book ordered beyond 400. The cost of production is $6 for each book. Find a formula for the profit function and how...