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Suppose 3 R(q) = a company's revenue function is given by -q³+280q² and its cost function is given by C(q) = 110 + 15q, where q is hundreds of units sold/produced, while R(q) and C(q) are in total dollars of revenue and cost, respectively. A) Find a simplified expression for the marginal profit function. (Be sure to use the proper variable in your answer.) MP(q) B) How many items (in hundreds) need to be sold to maximize profits? = Answer: hundred units must be sold. (Round to two decimal places.)

Suppose 3 R(q) = a company's revenue function is given by -q³+280q² and its cost function is given by C(q) = 110 + 15q, where q is hundreds of units sold/produced, while R(q) and C(q) are in total dollars of revenue and cost, respectively. A) Find a simplified expression for the marginal profit function. (Be sure to use the proper variable in your answer.) MP(q) B) How many items (in hundreds) need to be sold to maximize profits? = Answer: hundred units must be sold. (Round to two decimal places.)

Calculus: Early Transcendentals
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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3 C(q) Suppose a company's revenue function is given by R(q) = -q³+280q2 and its cost function is given by 110 + 15q, where q is hundreds of units sold/produced, while R(q) and C(q) are in total dollars of revenue and cost, respectively. = A) Find a simplified expression for the marginal profit function. (Be sure to use th proper variable in your answer.) MP(q) B) How many items (in hundreds) need to be sold to maximize profits? = Answer: hundred units must be sold. (Round to two decimal places.)
Transcribed Image Text:3 C(q) Suppose a company's revenue function is given by R(q) = -q³+280q2 and its cost function is given by 110 + 15q, where q is hundreds of units sold/produced, while R(q) and C(q) are in total dollars of revenue and cost, respectively. = A) Find a simplified expression for the marginal profit function. (Be sure to use th proper variable in your answer.) MP(q) B) How many items (in hundreds) need to be sold to maximize profits? = Answer: hundred units must be sold. (Round to two decimal places.)
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