Question: The cost function for q units of a certain item is C(q) = 108q + 91. The revenue function for the same item is R(q)

The cost function for q units of a certain item is C(q) = 108q + 91. The revenue function for the same item is R(q) = 108q + 55g a. Find the marginal cost. In q b. Find the profit function. C. Find the profit from one more unit sold when 8 units are sold. a. The marginal cost is b. P(q) = c. The profit from one more unit when 8 units are sold is approximately $ (Type an integer or decimal rounded to two decimal places as needed.) 5. If total revenue received from the sale of x items is given by R(x) = 30 In (4x + 1), while the total cost to produce x items is C(x) = , find the following. (a) The marginal revenue (b) The profit function P(x) (c) The marginal profit when x = 120 (d) Interpret the results of part (c). (a) How can the marginal revenue be found? A. Find the derivative of R(x) - C(x). B. Find R(x) - C(x). C. Find the derivative of R(x). O D. Find R (2). The marginal revenue is R'(x) = (b) How can the profit function be found? A. Find the derivative of R(x). B. Find R(x) -C(x). C. Find the derivative of R(x) - C(x). D. Find R'(x) - C(x). The profit function is P(x) = (c) The marginal profit when x = 120 can be found by evaluating (1) The marginal profit when x = 120 Is (Type an integer or decimal rounded to the nearest tenth as needed.) (d) Interpret the results of part (c). A. There is little cost to producing more than 120 items. B. Profit is negligible when producing fewer than 120 items. C. The revenue obtained after producing the 120th item is quite small. (D. There is almost no additional profit when producing one more item after the 120th item. (1) C'(120). P'(120) OC(120). OR'(120). R(120). OP(120)
Step by Step Solution
There are 3 Steps involved in it
Get step-by-step solutions from verified subject matter experts
