5. Company A plans to market a new product. The marketing department has determined that the demand for these products is p: -0.05x + 620, 0sxs 30,000, where p denotes the product's unit price (in dollars) and x denotes the quantity demanded. Also, the company estimates that the total cost (in dollars) incurred in manufacturing x products per year of production will be C(x) = 100x + 710,000. Find the marginal revenue function and the marginal profit function.
5. Company A plans to market a new product. The marketing department has determined that the demand for these products is p: -0.05x + 620, 0sxs 30,000, where p denotes the product's unit price (in dollars) and x denotes the quantity demanded. Also, the company estimates that the total cost (in dollars) incurred in manufacturing x products per year of production will be C(x) = 100x + 710,000. Find the marginal revenue function and the marginal profit function.
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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Transcribed Image Text:5. Company A plans to market a new product. The marketing department has determined that the demand for these products is p =
- 0.05x + 620,0sx< 30,000, where p denotes the product's unit price (in dollars) and x denotes the quantity demanded. Also, the
company estimates that the total cost (in dollars) incurred in manufacturing x products per year of production will be C(x) = 100x
+710,000.
Find the marginal revenue function and the marginal profit function.
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