Suppose that the total revenue function for a product is R(x) = 50x and that the total

Question:

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.