Question

The profit P (in thousands of dollars) for a company spending an amount s (in thousands of dollars) on advertising is shown below. $P = -\frac{1}{10}s^3 + 9s^2 + 400$ (a) Find the amount of money (in dollars) the company should spend on advertising in order to yield a maximum profit. $ (b) The point of diminishing returns is the point at which the rate of growth of the profit function begins to decline. Find the point of diminishing returns (in dollars). $

          The profit P (in thousands of dollars) for a company spending an amount s (in thousands of dollars) on advertising is shown below.
$P = -\frac{1}{10}s^3 + 9s^2 + 400$
(a) Find the amount of money (in dollars) the company should spend on advertising in order to yield a maximum profit.
$
(b) The point of diminishing returns is the point at which the rate of growth of the profit function begins to decline. Find the point of diminishing returns (in
dollars).
$

The profit P (in thousands of dollars) for a company spending an amount s (in thousands of dollars) on advertising is shown below.
P = -(1)/(10)s^3 + 9s^2 + 400
(a) Find the amount of money (in dollars) the company should spend on advertising in order to yield a maximum profit.
(b) The point of diminishing returns is the point at which the rate of growth of the profit function begins to decline. Find the point of diminishing returns (in
dollars).

Added by Noelia W.

Calculus: Early Transcendentals

James Stewart 8th Edition

Instant Answer

Solved by Expert Supreeta N

12/12/2023

Step 1

We can do this by taking the derivative of the profit function and setting it equal to zero. Show more…

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The profit P (in thousands of dollars) for a company spending an amount s (in thousands of dollars) on advertising is shown below. P=-(1)/(10)s^(3)+9s^(2)+400 (a) Find the amount of money (in dollars) the company should spend on advertising in order to yield a maximum profit. $ (b) The point of diminishing returns is the point at which the rate of growth of the profit function begins to decline. Find the point of diminishing returns (in dollars). $ The profit P (in thousands of dollars) for a company spending an amount s (in thousands of dollars) on advertising is shown below. 10 (a)Find the amount of money (in dollars) the company should spend on advertising in order to yield a maximum profit. (b The point of diminishing returns is the point at which the rate of growth of the profit function begins to decline. Find the point of diminishing returns (in dollars).