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Introduction to Management Science 12th Edition by Bernard Taylor
Edition 12ISBN: 978-0133778847Introduction to Management Science 12th Edition by Bernard Taylor
Edition 12ISBN: 978-0133778847 Exercise 3
The Rolling Creek Textile Mill makes denim. The monthly fixed cost is $8,000, and the variable cost per yard of denim is $0.35. Price is related to demand, according to the following linear equation:
v = 17,000 - 5,666 p
Develop the nonlinear profit function for the textile mill and determine the optimal price, the optimal volume, and the maximum profit per month.
v = 17,000 - 5,666 p
Develop the nonlinear profit function for the textile mill and determine the optimal price, the optimal volume, and the maximum profit per month.
Explanation
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The profit-function, Z , is represented ...
Introduction to Management Science 12th Edition by Bernard Taylor
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