A company is increasing the production of a product at the rate of 20 units per week. The demand and cost functions for the product are given by p = 60 - 0.03x and C = 4000 + 40x - 0.04x^2, where x is the number of units produced per week. Find the rate of change of the profit with respect to time (in dollars per week) when the weekly sales are x = 800 units. $ per week
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Revenue is given by the price per unit times the number of units sold, which is (0.03x)*x = 0.03x^2. Show more…
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