The price-demand equation and the cost function for the production of a certain product ar r = 6940 — 20p and C(x) = 7200 + 60x + 2x², respectively, where is the number of units tha can be sold monthly at a price p (in pesos) per piece. (a) Using marginals, approximate the revenue in selling the 81st unit. (b) How many units are needed to be prepared if the goal is to minimize the average production cost per unit? (e) How many units are needed to be prepared if the goal is to maximize the profit?

A standard "money demand" function used by macroeconomists has the form In(m) = Bo + B, In(GDP) + B2R, Where m is the quantity of (real) money, GDP is the value of (real) gross domestic product, and R is the value of the nominal interest rate measured in percent per year. Supposed that B, = 2.15 and B, = -0.06. %3D What is the expected change in m if GDP increases by 3%? The value of m is expected to V by approximately%. (Round your response to the nearest integer) What is the expected change in m if the interest rate increases from 1% to 9%? The value of m is expected to ▼ by approximately %. (Round your response to the nearest integer)

Question #7 - A company sells 60 units a year. The profit function for "X" units is P(x)=-.006x³-0.2x² +900x-1200. A) What is the marginal profit from raising the sales goal at 60 units? B) Is it a good idea to raise the sales goal from 60 to 61? Why?

3.) The revenue equation (in billions of dollars) for corn production in the United States is approximated by R(x)=0.016x² +1.034x+11.338 Where x is in billions of bushels. For example if you have 10 billion bushels, then x = 10. (Data from www.usda.gov) a.) Find the marginal revenue function b.) Find and interpret the marginal revenue for 15 billion bushels c.) Find and interpret the marginal revenue for 20 billion bushels