Answered: A company can sell x units of a product…

A company can sell x units of a product when the price is p = D(x) = 5.00 – 0.006x dollars. The total production costs are C(x) = 0.007x² + 0.51x + 250 dollars. Find the marginal profit function.

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Question

A company can sell x units of a product when the price is p = D(x) = 5.00 – 0.006x dollars. The total production costs are C(x) = 0.007x² + 0.51x + 250 dollars.
Find the marginal profit function.
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P'(x) =

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Marginal profit is the profit earned by a firm after the production and sale of an additional unit.

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