In Problem, cost, revenue, and profit are in dollars and x is the number of units. Suppose
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In Problem, cost, revenue, and profit are in dollars and x is the number of units.
Suppose that the total revenue function for a product is R(x) = 50x and that the total cost function is
C (x) = 1900 + 30x + 0.01x2.
(a) Find the profit from the production and sale of 500 units.
(b) Find the marginal profit function.
(c) Find M̅P̅ at x = 500 and explain what it predicts.
(d) Find P (501) - P (500) and explain what this value represents.
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Mathematical Applications For The Management, Life And Social Sciences
ISBN: 9781337625340
12th Edition
Authors: Ronald J. Harshbarger, James J. Reynolds
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