In Problem, cost, revenue, and profit are in dollars and x is the number of units. Suppose
Question:
In Problem, cost, revenue, and profit are in dollars and x is the number of units.
Suppose that the total revenue function is given by
R (x) = 46x
and that the total cost function is given by
C(x) = 100 + 30x + 0.1x2
(a) Find P(100).
(b) Find the marginal profit function.
(c) Find M̅P̅ at x = 100 and explain what it predicts.
(d) Find P(101) - P(100) and explain what this value represents.
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Related Book For
Mathematical Applications For The Management, Life And Social Sciences
ISBN: 9781337625340
12th Edition
Authors: Ronald J. Harshbarger, James J. Reynolds
Question Posted: