3. By increasing its advertising cost x (in thousands of dollars) for a product, a company discovers that it can increas

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3 By Increasing Its Advertising Cost X In Thousands Of Dollars For A Product A Company Discovers That It Can Increas 1 (81.69 KiB) Viewed 11 times

3. By increasing its advertising cost x (in thousands of dollars) for a product, a company discovers that it can increase the profit P (in thousands of dollars) according to the model P = −0.1x³ + 6x² + 400. Find the advertising cost that maximizes the profit. What is the maximum profit? Find the point of diminishing returns. Ans: (All are in thousands of dollars) Ad cost = $40, Max profit = $3600, point of diminishing returns = ($20, $2000)