A companys cost of producing q liters of a chemical is C(q) dollars; this quantity can be
Question:
A company’s cost of producing q liters of a chemical is C(q) dollars; this quantity can be sold for R(q) dollars. Suppose C(2000) = 5930 and R(2000) = 7780.
(a) What is the profit at a production level of 2000?
(b) If MC(2000) = 2.1 and MR(2000) = 2.5, what is the approximate change in profit if q is increased from 2000 to 2001? Should the company increase or decrease production from q = 2000?
(c) If MC(2000) = 4.77 and MR(2000) = 4.32, should the company increase or decrease production from q = 2000?
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a At q 2000 we have Profit R2000 C2000 7780 5930 1850 dollars b If q increases from 2000 to 2001 R R...View the full answer
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Related Book For 
Applied Calculus
ISBN: 9781119275565
6th Edition
Authors: Deborah Hughes Hallett, Patti Frazer Lock, Andrew M. Gleason, Daniel E. Flath, Sheldon P. Gordon, David O. Lomen, David Lovelock, William G. McCallum, Brad G. Osgood, Andrew Pasquale
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