Problems:
The revenue derived from the production of x units of a particular commodity is million dollars.
What level of production results in maximum revenue? What is the maximum revenue?
a.Maximum at x = 8 and maximum revenue is R(8) = 32 (million dollars)
b.Maximum at x = 8 and maximum revenue is R(8) = 2.67 (thousand dollars)
c.Maximum at x = 8 and maximum revenue is R(8) = 4 (million dollars)
d.Maximum at x = 9 and maximum revenue is R(9) = 2.67 (million dollars)
Determine the critical points of the given function and classify each critical point as a relative maximum, a relative minimum, or neither.
a.4.5, -32) relative maximum; x = 5 neither; x = 4 neither,
b.(4.5, -32) relative minimum; (5, 8) relative maximum; (4, 8) relative maximum;
c.(5, 8) relative maximum; (4, 8) relative maximum
d.(5, 8) relative minimum; (4, 8) relative maximum