0 Question 10 v Suppose a company's revenue function is given by R(q) = q3 -l- 250132 and its cost function is given by C(q) = 320 + 10g, where q is hundreds of units sold/produced, while R(q) and C(q) are in total dollars of revenue and cost, respectively. A) Find a simplified expression for the m_arginal profit function. (Be sure to use the proper variable in your answer.) Mqu) = l B) How many items (in hundreds) need to be sold to maximize profits? Answer: hundred units must be sold. (Round to two decimal places.) Check Answer 0 Question 11 v Use linear approximation, i.e. the tangent line, to approximate v3 125.2 as follows: Let x) 2 \3/5. The equation of the tangent line to x) at a: = 125 can be written in the form 3; 2 mm + b where m is: ' ' and where b is: l ' Using this, we find our approximation for V3 125.2 is ' Check Answer 0 Question 12 v Given the demand function D(p) = V 125 4 , Find the Elasticity of Demand at a price of $2 At this price, we would say the demand is: O Unitary 0 Elastic O Inelastic Based on this, to increase revenue we should: 0 Raise Prices 0 Keep Prices Unchanged 0 Lower Prices Check Answer 0 Question 13 v Suppose the demand for a product is given by D(p) = 8p + 170. A) Calculate the elasticity of demand at a price of $11. Elasticity = (Round to three decimal places.) 3) At what price do you have unit elasticity? (Round your answer to the nearest penny.) Price = S Check