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For a certain production facility, the cost function C(x) = 2x + 5 and the revenue function is R(x) = 8x – x² where x is the number of units (in thousands) produced and sold and R and C are measured in millions of dollars. Find: d) The number x for which marginal revenue equals marginal cost. e) Graph C (x) and R(x) on the same set of axes.

For a certain production facility, the cost function C(x) = 2x + 5 and the revenue function is R(x) = 8x – x² where x is the number of units (in thousands) produced and sold and R and C are measured in millions of dollars. Find: d) The number x for which marginal revenue equals marginal cost. e) Graph C (x) and R(x) on the same set of axes.

Advanced Engineering Mathematics
Advanced Engineering Mathematics
10th Edition
ISBN:9780470458365
Author:Erwin Kreyszig
Publisher:Erwin Kreyszig
Chapter2: Second-order Linear Odes
Section: Chapter Questions
Problem 1RQ
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For a certain production facility, the cost function C(x) = 2x + 5 and the revenue function is R(x) = 8x – x² where x is the number of units (in thousands) produced and sold and R and C are measured in millions of dollars. Find: d) The number x for which marginal revenue equals marginal cost. e) Graph C (x) and R(x) on the same set of axes.
Transcribed Image Text:For a certain production facility, the cost function C(x) = 2x + 5 and the revenue function is R(x) = 8x – x² where x is the number of units (in thousands) produced and sold and R and C are measured in millions of dollars. Find: d) The number x for which marginal revenue equals marginal cost. e) Graph C (x) and R(x) on the same set of axes.
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