A strawberry farmer will receive $28 per bushel of strawberries during the first week of harvesting. Each week after that, the value will drop $0.70 per bushel. The farmer estimates that there are approximately 112 bushels of strawberries in the fields, and that the crop is increasing at a rate of four bushels per week. When should the farmer harvest the strawberries (in weeks) to maximize their value? (Assume that "during the first week of harvesting" here means week 1.)
5 weeks
How many bushels of strawberries will yield the maximum value?
148 bushels
What is the maximum value of the strawberries (in dollars)?
$3626
The profit P (in thousands of dollars) for a company spending an amount s (in thousands of dollars) on advertising is given by the following equation.
P = -1/10s^3 + 3s^2 + 250
(a) Find the amount of money the company should spend on advertising in order to yield a maximum profit.
(b) Find the point of diminishing returns.
(s, P) = ( )