Your college newspaper, The Collegiate Investigator, sells for 90¢ per copy. The cost of producing x copies of an edition is given by C(x) = 50 + 0.10x + 0.001x² dollars. (a) Calculate the marginal revenue R'(x) and profit P'(x) functions. HINT [See Example 2.] R'(x) 90 = P'(x)=90 0.10 -0.002x (b) Compute the revenue and profit, and also the marginal revenue and profit, if you have produced and sold 500 copies of the latest edition. $ 45000 revenue profit marginal revenue You may have forgotten to multiply or divide by 100. $ 44500 $ 90 per additional copy marginal profit You may have forgotten to multiply or divide by 100. $ 89.00 per additional copy Interpret the results. The approximate loss ☑X from the sale of the 501st copy is $ 89.00 (c) For which value of x is the marginal profit zero? x = × copies Interpret your answer. The graph of the profit function is a parabola with a vertex at x = × copies. X, so the profit is at a maximum when you produce and sell

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.
Chapter3: The Derivative
Section3.5: Graphical Differentiation
Problem 1E
Question
Your college newspaper, The Collegiate Investigator, sells for 90¢ per copy. The cost of producing x copies of an edition is given by
C(x)
= 50 + 0.10x + 0.001x² dollars.
(a) Calculate the marginal revenue R'(x) and profit P'(x) functions. HINT [See Example 2.]
R'(x) 90
=
P'(x)=90 0.10 -0.002x
(b) Compute the revenue and profit, and also the marginal revenue and profit, if you have produced and sold 500 copies of the latest edition.
$ 45000
revenue
profit
marginal revenue
You may have forgotten to multiply or divide by 100.
$ 44500
$ 90
per additional copy
marginal profit
You may have forgotten to multiply or divide by 100.
$ 89.00
per additional copy
Interpret the results.
The approximate loss
☑X from the sale of the 501st copy is $ 89.00
(c) For which value of x is the marginal profit zero?
x =
× copies
Interpret your answer.
The graph of the profit function is a parabola with a vertex at x =
× copies.
X, so the profit is at a maximum when you produce and sell
Transcribed Image Text:Your college newspaper, The Collegiate Investigator, sells for 90¢ per copy. The cost of producing x copies of an edition is given by C(x) = 50 + 0.10x + 0.001x² dollars. (a) Calculate the marginal revenue R'(x) and profit P'(x) functions. HINT [See Example 2.] R'(x) 90 = P'(x)=90 0.10 -0.002x (b) Compute the revenue and profit, and also the marginal revenue and profit, if you have produced and sold 500 copies of the latest edition. $ 45000 revenue profit marginal revenue You may have forgotten to multiply or divide by 100. $ 44500 $ 90 per additional copy marginal profit You may have forgotten to multiply or divide by 100. $ 89.00 per additional copy Interpret the results. The approximate loss ☑X from the sale of the 501st copy is $ 89.00 (c) For which value of x is the marginal profit zero? x = × copies Interpret your answer. The graph of the profit function is a parabola with a vertex at x = × copies. X, so the profit is at a maximum when you produce and sell
Expert Solution
steps

Step by step

Solved in 2 steps

Blurred answer
Recommended textbooks for you
Calculus For The Life Sciences
Calculus For The Life Sciences
Calculus
ISBN:
9780321964038
Author:
GREENWELL, Raymond N., RITCHEY, Nathan P., Lial, Margaret L.
Publisher:
Pearson Addison Wesley,