A Manufacturer of Tennis Rackets Finds That the Total Cost

question 134

Short Answer

A manufacturer of tennis rackets finds that the total cost C(x) (in dollars) of manufacturing x rackets/day is given by Each racket can be sold at a price of p dollars, where p is related to x by the demand equation If all rackets that are manufactured can be sold, find the daily level of production that will yield a maximum profit for the manufacturer.
__________ rackets/day

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Definitions:

Supply Curves

Graphical representations showing the relationship between the price of a good and the quantity of that good that suppliers are willing to provide.

Tax Revenue

The earnings obtained by governments from tax collection.

Consumer Surplus

The contrast between what consumers intend to pay for an item or service and the real cost they bear.

Producer Surplus

The gap between the price producers are prepared to take for a product and the price they end up getting.