The cost to produce a certain commodity is given by the function C(x) = 50x + 2,000 The corresponding revenue function is given by R(x) = -0.6x² + 80x + 5000 Both functions are measured in dollars and x is the number of units produced (in thousands). Find the profit function and use it to determine how fast the profit is changing when when 8000 units are produced. Make sure to indicate whether it is increasing or decreasing and include the correct units.

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...
icon
Related questions
Question
The cost to produce a certain commodity is given by the function
C(x) = 50x + 2, 000
The corresponding revenue function is given by
R(x) = -0.6x² +80x + 5000
Both functions are measured in dollars and x is the number of units produced (in
thousands). Find the profit function and use it to determine how fast the profit is changing
when when 8000 units are produced. Make sure to indicate whether it is increasing or
decreasing and include the correct units.
Transcribed Image Text:The cost to produce a certain commodity is given by the function C(x) = 50x + 2, 000 The corresponding revenue function is given by R(x) = -0.6x² +80x + 5000 Both functions are measured in dollars and x is the number of units produced (in thousands). Find the profit function and use it to determine how fast the profit is changing when when 8000 units are produced. Make sure to indicate whether it is increasing or decreasing and include the correct units.
Expert Solution
steps

Step by step

Solved in 2 steps

Blurred answer
Recommended textbooks for you
Calculus: Early Transcendentals
Calculus: Early Transcendentals
Calculus
ISBN:
9781285741550
Author:
James Stewart
Publisher:
Cengage Learning
Thomas' Calculus (14th Edition)
Thomas' Calculus (14th Edition)
Calculus
ISBN:
9780134438986
Author:
Joel R. Hass, Christopher E. Heil, Maurice D. Weir
Publisher:
PEARSON
Calculus: Early Transcendentals (3rd Edition)
Calculus: Early Transcendentals (3rd Edition)
Calculus
ISBN:
9780134763644
Author:
William L. Briggs, Lyle Cochran, Bernard Gillett, Eric Schulz
Publisher:
PEARSON
Calculus: Early Transcendentals
Calculus: Early Transcendentals
Calculus
ISBN:
9781319050740
Author:
Jon Rogawski, Colin Adams, Robert Franzosa
Publisher:
W. H. Freeman
Precalculus
Precalculus
Calculus
ISBN:
9780135189405
Author:
Michael Sullivan
Publisher:
PEARSON
Calculus: Early Transcendental Functions
Calculus: Early Transcendental Functions
Calculus
ISBN:
9781337552516
Author:
Ron Larson, Bruce H. Edwards
Publisher:
Cengage Learning