1. Not finding help here? Sign up for a free 30min tutor trial with Chegg Tutors
    Dismiss Notice
Dismiss Notice
Join Physics Forums Today!
The friendliest, high quality science and math community on the planet! Everyone who loves science is here!

Max Profit

  1. Jun 25, 2006 #1
    In planning a resturant, it is estimated that a profit of $5 per seat will be made if the number of seats is between 60 and 80, inclusive. On the other hand, the profit on each seat will decrease by 5 cents for each seat above 80?

    a) Find the number of seats that will produce the max profit
    b) what is the max profit?
  2. jcsd
  3. Jun 26, 2006 #2


    User Avatar

    Staff: Mentor

    Make a hand plot first. What is the answer? Then use calculus to find the maximum. What is the answer? They should match, eh? Welcome to PF!
  4. Jun 26, 2006 #3


    User Avatar
    Science Advisor

    You don't really need calculus since the marginal profit is almost given to you. Just stop adding seats when the marginal profit is less than 0.
  5. Jun 26, 2006 #4


    User Avatar
    Staff Emeritus
    Science Advisor

    You don't say what the "profit" is, if any, if the number of seats is less than 60 so I will assume it is not defined for x< 60.

    Okay, the profit function, for x seats, is
    P(x)= 5x if 60<= x<= 80
    = (5- 0.05(x-80))x if x> 80

    As Orthodontist said, you don't really need calculus since the marginal profit is "almost given to you" but you can:

    P'(x)= 5 if 60<= x<= 80
    = -0.05x+ (5- 0.05(x-80))

    For what value of x is that equal to 0?
  6. Jun 26, 2006 #5


    User Avatar
    Science Advisor

    Actually, I think the additional profit on placing the x'th seat for x > 80 is
    Since with each seat, you
    1. Lose 5 cents on each seat already placed, which is x-1 seats
    2. Gain (5-.05(x-80)) dollars on the current seat
    A strict derivative would only be approximate since this is discrete.
Know someone interested in this topic? Share this thread via Reddit, Google+, Twitter, or Facebook

Have something to add?

Similar Discussions: Max Profit
  1. Profit Maximization (Replies: 1)

  2. Marginal profits (Replies: 9)

  3. Profit Function (Replies: 5)