The price demand and profit functions for selling x items of a newly introduced perfume are given by p(x) = 50x100 and P(x) = 30x² 20x + - 10000 x² 20000 X respectively. Approximate the cost of producing the 11th perfume.

The price demand and profit functions for selling x items of a newly introduced perfume are given by p(x) = 50x100 and P(x) = 30x² 20x + - 10000 x² 20000 X respectively. Approximate the cost of producing the 11th perfume.

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Question

keep the solution simple, brief, and legible and add notes please

2. The price demand and profit functions for selling x items of a newly introduced perfume are
given by
and
p(x) = 50x - 100
P(x) = 30x² 20x +
-
10000
x²
20000
X
respectively. Approximate the cost of producing the 11th perfume.

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