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Calculus I (Practice Problems) / Applications of Derivatives / Business Applications   [Notes] [Practice Problems] [Assignment Problems]

Calculus I - Practice Problems
Derivatives Previous Chapter   Next Chapter Integrals
Newton's Method Previous Section   Next Section Integrals (Introduction)

 

1. A company can produce a maximum of 1500 widgets in a year.  If they sell x widgets during the year then their profit, in dollars, is given by,

 

 

 

 

How many widgets should they try to sell in order to maximize their profit? [Solution]

 

2. A management company is going to build a new apartment complex.  They know that if the complex contains x apartments the maintenance costs for the building, landscaping etc. will be,

 

 

 

The land they have purchased can hold a complex of at most 500 apartments.  How many apartments should the complex have in order to minimize the maintenance costs? [Solution]

 

3. The production costs, in dollars, per day of producing x widgets is given by,

 

 

 

 

What is the marginal cost when  and ?  What do your answers tell you about the production costs? [Solution]

 

4. The production costs, in dollars, per month of producing x widgets is given by,

 

 

 

 

What is the marginal cost when  and ?  What do your answers tell you about the production costs? [Solution]

 

5. The production costs, in dollars, per week of producing x widgets is given by,

 

 

 

 

and the demand function for the widgets is given by,

 

 

 

 

What is the marginal cost, marginal revenue and marginal profit when  and ?  What do these numbers tell you about the cost, revenue and profit? [Solution]

 

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Newton's Method Previous Section   Next Section Integrals (Introduction)
Derivatives Previous Chapter   Next Chapter Integrals

Calculus I (Practice Problems) / Applications of Derivatives / Business Applications    [Notes] [Practice Problems] [Assignment Problems]

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