00:01
Hello everyone, in this question the cost function and the wholesale unit price is given.
00:06
The first part is we have to find the revenue function.
00:10
So, the revenue function is nothing but x into the wholesale unit price that is x into minus 0 .007 x plus 200 gives you the revenue function.
00:23
So, which will be 0 .007 x square plus 200 x.
00:28
So, which is the revenue function.
00:30
Next we have to find the profit function.
00:33
So, profit function is nothing but revenue function minus cost function.
00:37
So, revenue function is minus 0 .007 x square plus 200 x minus cost function is 0 .0004 x cube plus 0 .01 x square minus 160 x minus 70 ,000.
00:55
So, solving this we will be getting minus 0 .0004 x cube plus 0 .003 x square plus 40 x minus 70 ,000.
01:14
So, which is the required profit function and the revenue function...