Question: (a) Graph the marginal profit function for the profit function P(x) = 30x - x2 - 200, where P(x) is in thousands of dollars and

(a) Graph the marginal profit function for the profit function P(x) = 30x - x2 - 200, where P(x) is in thousands of dollars and x is hundreds of units.
(b) What level of production and sales will give a 0 marginal profit?
(c) At what level of production and sales will profit be at a maximum?
(d) What is the maximum profit?

Step by Step Solution

★★★★★

3.43 Rating (159 Votes )

There are 3 Steps involved in it

1 Expert Approved Answer

Step: 1 Unlock

MP 30 2x a b MP 0 if 30 2x 0 Thus x 15 c ... View full answer

Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock

Step: 3 Unlock

Document Format (1 attachment)

1386-M-C-L-A-D(3959).docx

120 KBs Word File

Students Have Also Explored These Related Calculus Questions!

The following matrix shows the costs in thousands of dollars for assigning Individuals A, B, C, and D to Jobs 1, 2, 3, and 4. Solve the problem showing your final assignments in order to minimize...

The following table reports salaries, in thousands of dollars per year, for executives in three job types and three locations. Conduct a two-way ANOVA on these data. 1, 0, 3, 185 27 77765687 923 =455...

The chart below lists the sales in thousands of dollars based on the advertising budget for that quarter. The regression equation is Y' = 4.073 + 0.8351X. What is the correlation coefficient?...

The monthly demand function for x units of a product sold by a monopoly is p = 6,200 - - x2 dollars, and its average cost is C = 3,090 + 2x dollars. Production is limited to 100 units. Find the...

@ Question 3 v Given the given cost function C(z) = 8850 + 620z + 0.2z and the demand function p(z) = 1860. Find the production level that will maximize profit. @ Question 4 v A baseball team plays...

Grades X Section X Section X Course X Topic: S X Section X Section X 1 1. Ther X & SOLVED X Hw: Sec X HW: Se X = 3.5 - GC x + X -> C...

Math 110 Course Resources - Marginal Analysis & Elasticity Course Packet on marginal analysis If the demand function for math self-help videos is given by 35 0.8x, and the total cost function to...

Q1. A company has an inverse demand function p = 8 - 0.004Q, and a total cost function TC = Q + 0.006Q2. (p is in dollars, and Q is in thousands of units). a. What is the optimal price p* and...

Use the revenue and cost functions below, to answer parts (A), (B), and (C). R(x)=80x-3x?> 1 0 5 10 15 20 25 30 35 = X Thousands of advertising dollars = (AIN'(x)= (B)N'(10)= (Type an integer or a...

What types of transactions affect the stockholders equity of a business? Provide two examples.

Complete the table by following entries given The U.S. Chamber of Commerce provides a free monthly bank reconciliation template at business.uschamber.com/tools/bankre_m.asp. Paula Hein just received...

statements is correct? a . Lily's recognized gain is $ 5 0 , 0 0 0 and her basis for the building received is $ 1 7 0 , 0 0 0 . b . Lily's recognized gain is $ 0 and her basis for the building...

1. To which regional trade agreements is Australia a signatory? LO 16.1 EASY

Refer to the data in Exercise 11-12 on rocket motor shear strength y and propellant age x. Find a 95% confidence interval on each of the following: (a) Slope B1 (b) Intercept B0 (c) Mean shear...

Refer to the NFL team performance data in Exercise 11-4. (a) Calculate R2 for this model and provide a practical interpretation of this quantity. (b) Prepare a normal probability plot of the...

Refer to the data in Exercise 11-5 on house selling price y and taxes paid x. y (a) Find the residuals for the least squares model. (b) Prepare a normal probability plot of the residuals and...

Laurel Enterprises pays annual dividends, and the next dividend is expected to be in one year. Laurel expects earnings next year of $4.25 per share and has a 50% retention rate, which it plans to...

Changes in the Cash Account (Please use the appropriate letter for each of the numbered items below. Use ; I for increase, D for decrease or N for no change). Please type the number and the...

Peter Piper has applied for a mortgage of $ 1 4 0 , 0 0 0 . Interest is computed at 7 . 5 percent compounded semiannually. The mortg vill be paid off over 2 0 years. ( For all requirements, use a...