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28. Marginal profit. The profit, in thousands of dollars, from the sale of x thousand candles can be estimated by P(x): = 2x 2x 0.3x In x. a) Find the marginal profit, P'(x). b) Find P'(150), and explain what this number: represents. c) How many candles (in thousands) should be sold in order to achieve a marginal profit of $750 per thousand candles? -

28. Marginal profit. The profit, in thousands of dollars, from the sale of x thousand candles can be estimated by P(x): = 2x 2x 0.3x In x. a) Find the marginal profit, P'(x). b) Find P'(150), and explain what this number: represents. c) How many candles (in thousands) should be sold in order to achieve a marginal profit of $750 per thousand candles? -

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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How would you solve number 28?
game can be modeled by p(x) = 53.5 - 8 ln x, for 0 ≤ x ≤ 800, where p(x) is the price consumers will pay, in dollars, and x is the number of games sold, in thousands. Recall that total revenue is given by R(x) =¸ x•p(x). a) Find R(x). b) Find the marginal revenue, R'(x). c) How many units will be sold if the price that con- sumers are willing to pay is $40? 28. Marginal profit. The profit, in thousands of dollars, from the sale of x thousand candles can be estimated by (x) = 2x - 0.3x ln x. a) Find the marginal profit, P'(x). b) Find P'(150), and explain what this number represents. c) How many candles (in thousands) should be sold in order to achieve a marginal profit of $750 per thousand candles? Social and Life Sciences 29. Forgetting. As part of a study, students in a psychol- ogy class took a final exam and then took equivalent hp 217 H 3- O
Transcribed Image Text:game can be modeled by p(x) = 53.5 - 8 ln x, for 0 ≤ x ≤ 800, where p(x) is the price consumers will pay, in dollars, and x is the number of games sold, in thousands. Recall that total revenue is given by R(x) =¸ x•p(x). a) Find R(x). b) Find the marginal revenue, R'(x). c) How many units will be sold if the price that con- sumers are willing to pay is $40? 28. Marginal profit. The profit, in thousands of dollars, from the sale of x thousand candles can be estimated by (x) = 2x - 0.3x ln x. a) Find the marginal profit, P'(x). b) Find P'(150), and explain what this number represents. c) How many candles (in thousands) should be sold in order to achieve a marginal profit of $750 per thousand candles? Social and Life Sciences 29. Forgetting. As part of a study, students in a psychol- ogy class took a final exam and then took equivalent hp 217 H 3- O
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