Advanced Engineering Mathematics
Advanced Engineering Mathematics
10th Edition
ISBN: 9780470458365
Author: Erwin Kreyszig
Publisher: Wiley, John & Sons, Incorporated
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Question
A company determines that its marginal profit, in dollars, for
producing x units of a product is given by P'(x) = 7,200x-¹-8,
where x ≥1. Suppose it were possible for this company to make
infinitely many units of this product. What would the total profit be?
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Transcribed Image Text:A company determines that its marginal profit, in dollars, for producing x units of a product is given by P'(x) = 7,200x-¹-8, where x ≥1. Suppose it were possible for this company to make infinitely many units of this product. What would the total profit be?
Expert Solution
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Step 1: Formula

A company determines that its marginal cost, in dollars, for producing x units of a product is given by

                    P apostrophe open parentheses x close parentheses space equals space 7200 space x to the power of negative 1.8 end exponent  where  x space greater or equal than space 1

            Total cost for producing infinitely many units is given by

                                         integral subscript 1 superscript infinity space P apostrophe open parentheses x close parentheses space d x

                  

            

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