OPTIMIZATION PROBLEMS
(Cost and Revenue)
Example 
COST PROBLEM
An open topped rectangular box has a volume of 250 cm3. The width of
the box is 5 cm. The cost for materials to make the box is $2/cm2 for the
base and $1/cm2 for the sides. Determine the dimensions that would
minimize the cost for making the box.
NOTE:
Profit = Revenue – Cost
Revenue = Price x Quantity
R = (current price  changes) x (current quantity  changes)
Example 
REVENUE PROBLEM
A commuter train carries 2000 passengers daily from a suburb into a
large city. The cost to ride the train is $7 per person. Market research
shows that 40 more people would ride the train for each $0.10 decrease
in price. If the capacity of the train is 2600 passengers, determine the
fare that the railway should charge in order to obtain the largest
possible revenue.
Homework:
p.152–154
#5–7, 9, 10, 12–14