uppose a company's revenue function is given by R(q) = −q³+330q² and its cost function is given by (q) = 570 + 12g, where g is hundreds of units sold/produced, while R(q) and C(q) are in total dollars f revenue and cost, respectively. ) Find a simplified expression for the marginal profit function. (Be sure to use the proper variable in your nswer.) MP(q) ) How many items (in hundreds) need to be sold to maximize profits? Answer: hundred units must be sold. (Round to two mal places.)
uppose a company's revenue function is given by R(q) = −q³+330q² and its cost function is given by (q) = 570 + 12g, where g is hundreds of units sold/produced, while R(q) and C(q) are in total dollars f revenue and cost, respectively. ) Find a simplified expression for the marginal profit function. (Be sure to use the proper variable in your nswer.) MP(q) ) How many items (in hundreds) need to be sold to maximize profits? Answer: hundred units must be sold. (Round to two mal places.)
Calculus For The Life Sciences
2nd Edition
ISBN:9780321964038
Author:GREENWELL, Raymond N., RITCHEY, Nathan P., Lial, Margaret L.
Publisher:GREENWELL, Raymond N., RITCHEY, Nathan P., Lial, Margaret L.
Chapter4: Calculating The Derivative
Section4.4: Derivatives Of Exponential Functions
Problem 56E
Related questions
Question
Please show all work. Thank You!
![Suppose a company's revenue function is given by R(q) = -q³+330q² and its cost function is given by
C(q) = 570+ 12g, where g is hundreds of units sold/produced, while R(q) and C(q) are in total dollars
of revenue and cost, respectively.
A) Find a simplified expression for the marginal profit function. (Be sure to use the proper variable in your
answer.)
MP(q)
B) How many items (in hundreds) need to be sold to maximize profits?
Answer:
=
hundred units must be sold. (Round to two decimal places.)](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F5ab93ccb-f3a6-4c19-b48f-8d06dccfb54f%2Fe1c590d8-0ea2-4bc1-924a-38a95052242e%2Fbnf2aan_processed.png&w=3840&q=75)
Transcribed Image Text:Suppose a company's revenue function is given by R(q) = -q³+330q² and its cost function is given by
C(q) = 570+ 12g, where g is hundreds of units sold/produced, while R(q) and C(q) are in total dollars
of revenue and cost, respectively.
A) Find a simplified expression for the marginal profit function. (Be sure to use the proper variable in your
answer.)
MP(q)
B) How many items (in hundreds) need to be sold to maximize profits?
Answer:
=
hundred units must be sold. (Round to two decimal places.)
Expert Solution
![](/static/compass_v2/shared-icons/check-mark.png)
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
This is a popular solution!
Trending now
This is a popular solution!
Step by step
Solved in 4 steps with 3 images
![Blurred answer](/static/compass_v2/solution-images/blurred-answer.jpg)
Follow-up Questions
Read through expert solutions to related follow-up questions below.
Follow-up Question
Sorry part C was missing
C) What are the actual maximum profits (in thousands) that can be expected? (If necessary, round your answer to three decimal places.)
Answer: thousand dollars of maximum profits can be expected.
Solution
Recommended textbooks for you
![Calculus For The Life Sciences](https://www.bartleby.com/isbn_cover_images/9780321964038/9780321964038_smallCoverImage.gif)
Calculus For The Life Sciences
Calculus
ISBN:
9780321964038
Author:
GREENWELL, Raymond N., RITCHEY, Nathan P., Lial, Margaret L.
Publisher:
Pearson Addison Wesley,
![Algebra and Trigonometry (MindTap Course List)](https://www.bartleby.com/isbn_cover_images/9781305071742/9781305071742_smallCoverImage.gif)
Algebra and Trigonometry (MindTap Course List)
Algebra
ISBN:
9781305071742
Author:
James Stewart, Lothar Redlin, Saleem Watson
Publisher:
Cengage Learning
![Calculus For The Life Sciences](https://www.bartleby.com/isbn_cover_images/9780321964038/9780321964038_smallCoverImage.gif)
Calculus For The Life Sciences
Calculus
ISBN:
9780321964038
Author:
GREENWELL, Raymond N., RITCHEY, Nathan P., Lial, Margaret L.
Publisher:
Pearson Addison Wesley,
![Algebra and Trigonometry (MindTap Course List)](https://www.bartleby.com/isbn_cover_images/9781305071742/9781305071742_smallCoverImage.gif)
Algebra and Trigonometry (MindTap Course List)
Algebra
ISBN:
9781305071742
Author:
James Stewart, Lothar Redlin, Saleem Watson
Publisher:
Cengage Learning