Optimization for Economics Applications | Calculus 1 | Math with Professor V |
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Examples solved in this video:
1. If the price charged for a candy bar is p(x) cents, then x thousand candy bars will be sold in a certain city, where p(x) = 24 -x/22. How many candy bars must be sold to maximize revenue? 2. A rectangular field is to be enclosed on four sides with a fence. Fencing costs $5 per foot for two opposite sides, and $7 per foot for the other two sides. Find the dimensions of the field of area 870 ft2 that would be the cheapest to enclose. 3. Find the optimum number of batches (to the nearest whole number) of an item that should be produced annually (in order to minimize cost) if 60,000 units are to be made, it costs $4 to store a unit for one year, and it costs $600 to set up the factory to produce each batch. Assume that units of this item will be sold off throughout the year, so the cost equation will use the average cost. For an introductory video lecture on optimization: https://youtu.be/bW1O4W-qsFw Other optimization videos: Larry the Lifeguard: https://youtu.be/gHThELGkVto Homework exercises: https://youtu.be/X1LNC_tTWHI Optimization: https://youtu.be/IouSlpbjjoE Don't forget to LIKE, Comment, & Subscribe! xoxo, Professor V https://linktr.ee/mathwithprofessorv Calculus 2 Lecture Videos on Integration: Integration by parts: https://youtu.be/0klrkpMUsXA Tabular Integration: https://youtu.be/pzhJciqIrzw Trigonometric integrals: https://youtu.be/0MqaL3fwPu4 Trigonometric Substitution: https://youtu.be/rAH-dRxQ4o0 Partial Fraction Decomposition: https://youtu.be/mT25uSspHIU Strategy for Integration: https://youtu.be/P_smvpnX3_g Improper Integrals: https://youtu.be/Q0zD3GjXJ1s Trig Review: Unit Circle: https://youtu.be/nl84YXi1_3A Trig Identities: https://youtu.be/SLVrNGi1Br0 Sum and Difference Formulas: https://youtu.be/9kC8gwkxf6A Double Angle & Half-Angle Formulas: https://youtu.be/EaF57Y4B2uY Calculus 3 Video Lectures: https://youtube.com/playlist?list=PLl-Np5U6u5E65pRRuD0mBXM4w4fenJ5gD #mathwithprofessorv #integration #partialfractions #partialfractionmethod #partialfractiondecomposition #trigonometricsubstitution #trigintegrals #trigsubstitution #integrals #integralcalculus #calculus2 #calculusvideos #calculus2videos #integralvideos #trigonometricintegrals #math #youtubemath #mathvideos #mathtutor #mathprofessor #calculusvideos #integrationbyparts #integralcalculus Join this channel to get access to perks: https://www.youtube.com/channel/UCokuhoh5N_B0ZxHcEU_EWbQ/join Socials: IG: @mathwithprofessorv TikTok: @mathwithprofessorv I'm also an Amazon influencer, so feel free to support and shop: https://amazon.com/shop/mathwithprofessorv EXCITING NEWS: You can now sign up for my Patreon at the link below! https://www.patreon.com/mathwithprofessorv My Patreon is a place for students to have access to exclusive ad-free content not available on my YouTube channel! Access to the library of additional videos, worksheets, and more is available with the "Star Pupil Package" tier for just $9.99/month (USD). https://www.patreon.com/mathwithprofessorv *This video is copy protected and cannot be downloaded or used in any capacity without my permission.* |