Cost, revenue, and profit are in dollars and x is the number of units. Suppose that the total revenue function is given by R(x) = 47x and that the total cost function is given by C(x) = 70 + 30x + 0.1x². (a) Find P(100). P(100) = (b) Find the marginal profit function MP. MP = (c) Find MP at x = 100. MP(100) Explain what it predicts. At x = 100, MP(100) predicts that profit will decrease by |MP(100)| dollars. At x = 100, MP(100) predicts that cost will increase by |MP(100) | dollars. At x = 100, MP(100) predicts that cost will decrease by |MP(100) | dollars. At x = 100, MP(100) predicts that profit will increase by |MP(100) | dollars. (d) Find P(101) - P(100). $ Explain what this value represents. - ○ The sale of the 101st unit will decrease profit by |P(101) - P(100) | dollars. The sale of the 100th unit will increase profit by |P(101) – P(100) | dollars. The sale of the 101st unit will increase profit by |P(101) - P(100) | dollars. The sale of the 100th unit will decrease profit by |P(101) - P(100) | dollars.
Cost, revenue, and profit are in dollars and x is the number of units. Suppose that the total revenue function is given by R(x) = 47x and that the total cost function is given by C(x) = 70 + 30x + 0.1x². (a) Find P(100). P(100) = (b) Find the marginal profit function MP. MP = (c) Find MP at x = 100. MP(100) Explain what it predicts. At x = 100, MP(100) predicts that profit will decrease by |MP(100)| dollars. At x = 100, MP(100) predicts that cost will increase by |MP(100) | dollars. At x = 100, MP(100) predicts that cost will decrease by |MP(100) | dollars. At x = 100, MP(100) predicts that profit will increase by |MP(100) | dollars. (d) Find P(101) - P(100). $ Explain what this value represents. - ○ The sale of the 101st unit will decrease profit by |P(101) - P(100) | dollars. The sale of the 100th unit will increase profit by |P(101) – P(100) | dollars. The sale of the 101st unit will increase profit by |P(101) - P(100) | dollars. The sale of the 100th unit will decrease profit by |P(101) - P(100) | dollars.
Algebra and Trigonometry (MindTap Course List)
4th Edition
ISBN:9781305071742
Author:James Stewart, Lothar Redlin, Saleem Watson
Publisher:James Stewart, Lothar Redlin, Saleem Watson
Chapter2: Functions
Section2.4: Average Rate Of Change Of A Function
Problem 4.2E: bThe average rate of change of the linear function f(x)=3x+5 between any two points is ________.
Question
![Cost, revenue, and profit are in dollars and x is the number of units.
Suppose that the total revenue function is given by
R(x) = 47x
and that the total cost function is given by
C(x) = 70 + 30x + 0.1x².
(a) Find P(100).
P(100) =
(b) Find the marginal profit function MP.
MP =
(c) Find MP at x = 100.
MP(100)
Explain what it predicts.
At x = 100, MP(100) predicts that profit will decrease by |MP(100)| dollars.
At x = 100, MP(100) predicts that cost will increase by |MP(100) | dollars.
At x = 100, MP(100) predicts that cost will decrease by |MP(100) | dollars.
At x = 100, MP(100) predicts that profit will increase by |MP(100) | dollars.
(d) Find P(101) - P(100).
$
Explain what this value represents.
-
○ The sale of the 101st unit will decrease profit by |P(101) - P(100) | dollars.
The sale of the 100th unit will increase profit by |P(101) – P(100) | dollars.
The sale of the 101st unit will increase profit by |P(101) - P(100) | dollars.
The sale of the 100th unit will decrease profit by |P(101) - P(100) | dollars.](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F758accb3-0c05-4879-b256-e4f3a293d375%2F3a2d02db-c0bc-4789-aa05-a54ed69b38e2%2Fqofildq_processed.png&w=3840&q=75)
Transcribed Image Text:Cost, revenue, and profit are in dollars and x is the number of units.
Suppose that the total revenue function is given by
R(x) = 47x
and that the total cost function is given by
C(x) = 70 + 30x + 0.1x².
(a) Find P(100).
P(100) =
(b) Find the marginal profit function MP.
MP =
(c) Find MP at x = 100.
MP(100)
Explain what it predicts.
At x = 100, MP(100) predicts that profit will decrease by |MP(100)| dollars.
At x = 100, MP(100) predicts that cost will increase by |MP(100) | dollars.
At x = 100, MP(100) predicts that cost will decrease by |MP(100) | dollars.
At x = 100, MP(100) predicts that profit will increase by |MP(100) | dollars.
(d) Find P(101) - P(100).
$
Explain what this value represents.
-
○ The sale of the 101st unit will decrease profit by |P(101) - P(100) | dollars.
The sale of the 100th unit will increase profit by |P(101) – P(100) | dollars.
The sale of the 101st unit will increase profit by |P(101) - P(100) | dollars.
The sale of the 100th unit will decrease profit by |P(101) - P(100) | dollars.
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