MATHEMATICA

The students are required to select a case from the following listed cases. The Group size can be up to a maximum of 5 students. The report on the case study shall be due by the end of classes. Please follow the schedule below:
Submission location: In class lecture
Submission format: Printed report
Word file and excel file in CD/USB
Group size Max. 5

Use of MATHEMATICA or alternate software is recommended
Project: The demand function for product is q=-50p+4500 and the total cost per unit for producing q units is c=8q+20000 , where p= price, and q= quantity demand
Plot cost function c versus q for a range of q 0 to 5000
Find the revenue function. (Revenue = p.q)
Find the profit function of the firm. (Profit = Revenue €“ total cost)
Find the critical value of p maximizing the profit. (By setting the first derivative of profit equal to 0).
Compute the revenue and the cost at this maximum.
Report structure
Report
Contents
Abstract: 1
1. Problem Statement: (10 Points) 3
2. Proposed Solution Methodology: (40 Points) 4
3. MATHEMATICA Output: (40 Points) 5
4. Conclusions and Summary: (10 Points) 6

Problem Statement: (10 Points)
Give the Statement of the problem in your own words. State the main issuess mentioned in the problem
Proposed SolutionMethodology: (40 Points)
Write here answers to Questions
MATHEMATICAOutput: (40 Points)
Conclusions and Summary: (10 Points)