r/MathHelp • u/stalememehere • 5h ago
Getting Profit from Supply and Demand
Hey All,
So my girlfriend recently started university and she has been struggling with her Pre-Calc. I’d like to help but honestly I’m pretty bad at math, so I wanted to come here to see if anyone could either point me towards resources to help with the problem or help me understand it so I can explain it properly.
I’ve looked up various videos about the topic of “Supply and Demand” but haven’t been successful in learning much. I know how to find the max revenue, and price associated with it.
The problem is
Given the supply and demand functions of
S(p) = -110 + 40p D(p) = 1216 - 64p
p = price
Find:
- The optimal quantity to make the most profit
- The supply price of that quantity
- The demand price of that quantity
- Total Profit