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1. A fast food restaurant has determined that the monthly demand for its hamburgers is given by: Р 60,000-x 20,000 and the cost of producing x hamburgers is given by: C(x) = 5000+ 0.56x 0≤x≤ 50,000 a) Find the profit and marginal profit for producing 20,000 hamburgers b) Find the profit and marginal profit for producing 30,000 hamburgers

1. A fast food restaurant has determined that the monthly demand for its hamburgers is given by: Р 60,000-x 20,000 and the cost of producing x hamburgers is given by: C(x) = 5000+ 0.56x 0≤x≤ 50,000 a) Find the profit and marginal profit for producing 20,000 hamburgers b) Find the profit and marginal profit for producing 30,000 hamburgers

Calculus: Early Transcendentals
Calculus: Early Transcendentals
8th Edition
ISBN:9781285741550
Author:James Stewart
Publisher:James Stewart
Chapter1: Functions And Models
Section: Chapter Questions
Problem 1RCC: (a) What is a function? What are its domain and range? (b) What is the graph of a function? (c) How...
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1. A fast food restaurant has determined that the monthly demand for its hamburgers is given by: Р 60,000-x 20,000 and the cost of producing x hamburgers is given by: C(x) = 5000+ 0.56x 0≤x≤ 50,000 a) Find the profit and marginal profit for producing 20,000 hamburgers b) Find the profit and marginal profit for producing 30,000 hamburgers 2. The demand function for a product is modeled by: 500 р x+2 a) Determine the elasticity function, E (p). b) Is the demand elastic, inelastic or unitary when the level of production is x = 23 units?
Transcribed Image Text:1. A fast food restaurant has determined that the monthly demand for its hamburgers is given by: Р 60,000-x 20,000 and the cost of producing x hamburgers is given by: C(x) = 5000+ 0.56x 0≤x≤ 50,000 a) Find the profit and marginal profit for producing 20,000 hamburgers b) Find the profit and marginal profit for producing 30,000 hamburgers 2. The demand function for a product is modeled by: 500 р x+2 a) Determine the elasticity function, E (p). b) Is the demand elastic, inelastic or unitary when the level of production is x = 23 units?
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