Acrosonic's production department estimates that the total cost (in dollars) Incurred in manufacturing x ElectroStat speaker systems in the first year of production will be represented by the following function, where R(x) is the revenue function in dollars and x denotes the quantity demanded. Find the following functions (in dollars) and compute the values (in dollars). C(x) - 290x + 18,000 and R(x) - -0.04x + 8O0x (a) Find the profit function P. P(x) - (b) Find the marginal profit function P'. P'(x) = (c) Compute the following values. P'(4,000) = P'(10,000) =
Acrosonic's production department estimates that the total cost (in dollars) Incurred in manufacturing x ElectroStat speaker systems in the first year of production will be represented by the following function, where R(x) is the revenue function in dollars and x denotes the quantity demanded. Find the following functions (in dollars) and compute the values (in dollars). C(x) - 290x + 18,000 and R(x) - -0.04x + 8O0x (a) Find the profit function P. P(x) - (b) Find the marginal profit function P'. P'(x) = (c) Compute the following values. P'(4,000) = P'(10,000) =
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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![Acrosonic's production department estimates that the total cost (In dollars) Incurred in manufacturing x ElectroStat speaker systems in the first year of production will be represented by the
following function, where R(x) is the revenue function in dollars and x denotes the quantity demanded. Find the following functions (in dollars) and compute the values (in dollars).
C(x) - 290x + 18,000 and R(x) - -0.04x + 800x
(a) Find the profit function P.
P(x) =
(b) Find the marginal profit function P'.
P'(x) =
(c) Compute the following values.
P'(4,000) -
P'(10,000) =](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fa9953607-b507-4ba0-a1b4-642872b5a90b%2Fb54b3b7f-b98d-40fd-a141-aa2a5549e694%2Fofqg39o_processed.jpeg&w=3840&q=75)
Transcribed Image Text:Acrosonic's production department estimates that the total cost (In dollars) Incurred in manufacturing x ElectroStat speaker systems in the first year of production will be represented by the
following function, where R(x) is the revenue function in dollars and x denotes the quantity demanded. Find the following functions (in dollars) and compute the values (in dollars).
C(x) - 290x + 18,000 and R(x) - -0.04x + 800x
(a) Find the profit function P.
P(x) =
(b) Find the marginal profit function P'.
P'(x) =
(c) Compute the following values.
P'(4,000) -
P'(10,000) =
Expert Solution
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Step 1
Given :
C ( x) = 290 x + 18000
R (x) = - 0.04x2 + 800 x
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