A company has started selling a new type of smartphone at
the price of $110. 0.50x where x is the number of smartphones manufactured per
day. The parts of each smartphone cost $50 and the labor overhead for running
the plant cost $6000 per day. How many smartphones should the company make and
sell per day to maximize profit. (Remember that Profit= revenue – cost)
Solution :
P = the profit per day
X = the number of items manufactured per day
Function
to maximize p=x(110 - .50x) – (50x +6000) where 0<x<∞
= optimal number of smartphones to manufactured per day is 600
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