The cost of producing q units of a good is C(q)=50q+500, and the firm sells q units at p(q)=500-2q. Determine the approximate change in profit when quantity sold changes from 115 to 120. How different is the actual change and the approximate change from each other?
The cost of producing q units of a good is C(q)=50q+500, and the firm sells q units at p(q)=500-2q. Determine the approximate change in profit when quantity sold changes from 115 to 120. How different is the actual change and the approximate change from each other?
Algebra for College Students
10th Edition
ISBN:9781285195780
Author:Jerome E. Kaufmann, Karen L. Schwitters
Publisher:Jerome E. Kaufmann, Karen L. Schwitters
Chapter8: Functions
Section8.CR: Review Problem Set
Problem 50CR
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The cost of producing ? units of a good is ?(?)=50?+500, and the firm sells ? units at ?(?)=500−2?. Determine the approximate change in profit when quantity sold changes from 115 to 120. How different is the actual change and the approximate change from each other?
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