27. Suppose that the total revenue function for a prod- uct is R(x) = 50x and that the total cost function is C(x) 1900 + 30x + 0.01x². (a) Find the profit from the production and sale of 500 units. (b) Find the marginal profit function. (c) Find MP at x = 500 and explain what it predicts.

Advanced Engineering Mathematics
10th Edition
ISBN:9780470458365
Author:Erwin Kreyszig
Publisher:Erwin Kreyszig
Chapter2: Second-order Linear Odes
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27. Suppose that the total revenue function for a prod-
uct is R(x) = 50x and that the total cost function is
C(x) = 1900 + 30x + 0.01x².
(a) Find the profit from the production and sale of 500
units.
(b) Find the marginal profit function.
(c) Find MP at x = 500 and explain what it predicts.
(d) Find P(501) – P(500) and explain what this value
represents.
TCL
f(x) =
2
3
3
2
2
C
- 3x + 2
C
Transcribed Image Text:27. Suppose that the total revenue function for a prod- uct is R(x) = 50x and that the total cost function is C(x) = 1900 + 30x + 0.01x². (a) Find the profit from the production and sale of 500 units. (b) Find the marginal profit function. (c) Find MP at x = 500 and explain what it predicts. (d) Find P(501) – P(500) and explain what this value represents. TCL f(x) = 2 3 3 2 2 C - 3x + 2 C
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