In general, the profit function P(x) of a product or service is defined as the difference between the revenue R(x) and the cost C(x). The price-demand function p(x) describes the price of the product to the consumer as a function of its demand (higher demand results in a lower selling price). In these situations, x is defined as the number of items sold. Suppose the price demand and the cost functions for the production of small laptops is given by: p(x) = 200- 0.005x (0 ≤ x ≤ 10000) C(x) = 75000 + 100x -0.03x² +0.000004x³ (0 ≤ x ≤ 10000) Determine the marginal cost when 7500 laptops are sold: [Select] Determine R' (7500): [Select] If the marginal revenue is negative, this indicates: [Select] Determine the profit function: [Select]
In general, the profit function P(x) of a product or service is defined as the difference between the revenue R(x) and the cost C(x). The price-demand function p(x) describes the price of the product to the consumer as a function of its demand (higher demand results in a lower selling price). In these situations, x is defined as the number of items sold. Suppose the price demand and the cost functions for the production of small laptops is given by: p(x) = 200- 0.005x (0 ≤ x ≤ 10000) C(x) = 75000 + 100x -0.03x² +0.000004x³ (0 ≤ x ≤ 10000) Determine the marginal cost when 7500 laptops are sold: [Select] Determine R' (7500): [Select] If the marginal revenue is negative, this indicates: [Select] Determine the profit function: [Select]
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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![In general, the profit function P(x) of a product or service is defined as the difference between
the revenue R(x) and the cost C(x). The price-demand function p(x) describes the price of the
product to the consumer as a function of its demand (higher demand results in a lower selling
price). In these situations, x is defined as the number of items sold.
Suppose the price demand and the cost functions for the production of small laptops is given by:
p(x) = 200 – 0.005x (0 ≤ x ≤ 10000)
C(x) = 75000 + 100x -0.03x² + 0.000004x³ (0 ≤ x ≤ 10000)
Determine the marginal cost when 7500 laptops are sold: [ Select]
Determine R' (7500): [Select]
If the marginal revenue is negative, this indicates: [Select]
Determine the profit function: [Select]](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F013c75ac-2d16-43c8-990e-3013ba3f6337%2F7191dbc7-bf51-4a8a-a646-59077ca396cd%2Fzd44r66_processed.png&w=3840&q=75)
Transcribed Image Text:In general, the profit function P(x) of a product or service is defined as the difference between
the revenue R(x) and the cost C(x). The price-demand function p(x) describes the price of the
product to the consumer as a function of its demand (higher demand results in a lower selling
price). In these situations, x is defined as the number of items sold.
Suppose the price demand and the cost functions for the production of small laptops is given by:
p(x) = 200 – 0.005x (0 ≤ x ≤ 10000)
C(x) = 75000 + 100x -0.03x² + 0.000004x³ (0 ≤ x ≤ 10000)
Determine the marginal cost when 7500 laptops are sold: [ Select]
Determine R' (7500): [Select]
If the marginal revenue is negative, this indicates: [Select]
Determine the profit function: [Select]
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