MATH 157 Lecture Notes - Solution Process

• School: Simon Fraser University
• Department: Mathematics
• Course: MATH 157
• Professor: Stephen Choi

Document Summary

Directions: print double sided, write your solutions to both questions directly on this page, place immediately after cover page and staple together! Marks: an answer without a detailed solution process will be awarded zero marks! The weekly total cost function associated with manufacturing these sets is given by. C(x) = 0. 000002x3 0. 03x2 + 400x + 80, 000 where c(x) denotes the total cost incurred in producing x sets. Find the level of production that will yield a maximum pro ts for the manufacturer. R(x) = p x = 0. 05x2 + 600x. M c = 0. 000006x2 0. 06x + 400. 2 0. 00006 = 10, 000/3 where the negative root is rejected. C (10000/3) = 0. 000012(10000/3) 0. 06 = 0. 02, so the level of production for maximum pro t is x = 10, 000/3. Q2: find the interest rate needed for an investment of $ 5000 to grow to an amount of $ 7500 in 3 years if interest is compounded quarterly.