-X²-4+7
=-X²+3
a=-1 b=0
X=-b/2a
X=0
If X=0, Y=3
So the Vertex is (0, 3).
That's your answer.
Answer:
$3
Step-by-step explanation:
Given that:
p = 8 - ln(x) when 5 < x < 500
where;
x = The total number of dogs sold
Then;
The total revenue = x * p
R = x(8 - ln(x))
R = 8x - xln(x)
The Company thus pays 1 dollar per dog
i.e.
The total cost C = 1 * x = x
Then: Profit = R - C
P = 8x - xln(x) - x
P = 7x - xln(x)
Differentiating P in respect to x
dP/dx = 7 - d/dx(xln(x))
dP/dx = 7 - x*d/dx(ln(x)) - ln(x)*d/dx(x)
dP/dx = 7 - x(1/x) - ln(x)
dP/dx = 6 - ln(x)
Since this must be maximized, dP/dx is set to be equal to 0
6 - ln(x) = 0
ln(x) = 6
x = e^6
Now, p = 8 - ln(x)
Plug in the value of x :
p = 8 - ln(e^5)
p = 8 - 5
p = 3
Therefore, each dog must be priced at $3 to maximize the profit.
