The demand equation for a certain item is p= 14-- 1,000 production level of 3,000 and interpret the result. and the cost equation is C(x)=7,000+ 4x. Find the marginal profit at a OA. $7; at the 3,000 level of production, profit will increase by approximately $7 for each unit increase in production. OB. $4; at the 3,000 level of production, profit will increase by approximately $4 for each unit increase in production. OC. $14; at the 3,000 level of production, profit will increase by approximately $14 for each unit increase in production. OD. $16; at the 3,000 level of production, profit will increase by approximately $16 for each unit increase in production.

Algebra and Trigonometry (6th Edition)
6th Edition
ISBN:9780134463216
Author:Robert F. Blitzer
Publisher:Robert F. Blitzer
ChapterP: Prerequisites: Fundamental Concepts Of Algebra
Section: Chapter Questions
Problem 1MCCP: In Exercises 1-25, simplify the given expression or perform the indicated operation (and simplify,...
icon
Related questions
Question
X
and the cost equation is C(x)=7,000+ 4x. Find the marginal profit at a
1,000
The demand equation for a certain item is p= 14--
production level of 3,000 and interpret the result.
OA. $7; at the 3,000 level of production, profit will increase by approximately $7 for each unit
increase in production.
OB. $4; at the 3,000 level of production, profit will increase by approximately $4 for each unit
increase in production.
OC. $14; at the 3,000 level of production, profit will increase by approximately $14 for each unit
increase in production.
OD. $16; at the 3,000 level of production, profit will increase by approximately $16 for each unit)
increase in production.
Transcribed Image Text:X and the cost equation is C(x)=7,000+ 4x. Find the marginal profit at a 1,000 The demand equation for a certain item is p= 14-- production level of 3,000 and interpret the result. OA. $7; at the 3,000 level of production, profit will increase by approximately $7 for each unit increase in production. OB. $4; at the 3,000 level of production, profit will increase by approximately $4 for each unit increase in production. OC. $14; at the 3,000 level of production, profit will increase by approximately $14 for each unit increase in production. OD. $16; at the 3,000 level of production, profit will increase by approximately $16 for each unit) increase in production.
Expert Solution
trending now

Trending now

This is a popular solution!

steps

Step by step

Solved in 3 steps with 2 images

Blurred answer
Similar questions
Recommended textbooks for you
Algebra and Trigonometry (6th Edition)
Algebra and Trigonometry (6th Edition)
Algebra
ISBN:
9780134463216
Author:
Robert F. Blitzer
Publisher:
PEARSON
Contemporary Abstract Algebra
Contemporary Abstract Algebra
Algebra
ISBN:
9781305657960
Author:
Joseph Gallian
Publisher:
Cengage Learning
Linear Algebra: A Modern Introduction
Linear Algebra: A Modern Introduction
Algebra
ISBN:
9781285463247
Author:
David Poole
Publisher:
Cengage Learning
Algebra And Trigonometry (11th Edition)
Algebra And Trigonometry (11th Edition)
Algebra
ISBN:
9780135163078
Author:
Michael Sullivan
Publisher:
PEARSON
Introduction to Linear Algebra, Fifth Edition
Introduction to Linear Algebra, Fifth Edition
Algebra
ISBN:
9780980232776
Author:
Gilbert Strang
Publisher:
Wellesley-Cambridge Press
College Algebra (Collegiate Math)
College Algebra (Collegiate Math)
Algebra
ISBN:
9780077836344
Author:
Julie Miller, Donna Gerken
Publisher:
McGraw-Hill Education