A) Solve the following problem on its own sheet of blank paper. No other problems should appear on this page. Sydney owns a crafts business (Tucson city licence #44d8542). o The cost function is C(q) = 27q + 4167 , where q is units sold and C(q) is in dollars. o The revenue function is R(g) : 6q° + 1000q, where R(q) is in dollars and q is units sold. i) Find the profit function, P(a). Use function notation in your answer. ii) Find the marginal profit function, MP(q). Use function notation in your answer. iii) What are the marginal profits when 76 units have been produced and sold AND what does that mean in context? Write your answer as a complete sentence.
A) Solve the following problem on its own sheet of blank paper. No other problems should appear on this page. Sydney owns a crafts business (Tucson city licence #44d8542). o The cost function is C(q) = 27q + 4167 , where q is units sold and C(q) is in dollars. o The revenue function is R(g) : 6q° + 1000q, where R(q) is in dollars and q is units sold. i) Find the profit function, P(a). Use function notation in your answer. ii) Find the marginal profit function, MP(q). Use function notation in your answer. iii) What are the marginal profits when 76 units have been produced and sold AND what does that mean in context? Write your answer as a complete sentence.
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:A) Solve the following problem on its own sheet of blank paper.
No other problems should appear on
this page.
Sydney owns a crafts business (Tucson city licence #44d8542).
o The cost function is C(q):
o The revenue function is R(g)
27g + 4167 , where q is units sold and C(q) is in dollars.
- 6q² + 1000q, where R(q) is in dollars and q is units
sold.
i) Find the profit function, P(q). Use function notation in your answer.
ii) Find the marginal profit function, MP(q). Use function notation in your answer.
iii) What are the marginal profits when 76 units have been produced and sold AND what does that
mean in context? Write your answer as a complete sentence.
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