The price-demand equation and the cost function for the production of a certain product ar r = 6940 — 20p and C(x) = 7200 + 60x + 2x², respectively, where is the number of units tha can be sold monthly at a price p (in pesos) per piece. (a) Using marginals, approximate the revenue in selling the 81st unit. (b) How many units are needed to be prepared if the goal is to minimize the average production cost per unit? (e) How many units are needed to be prepared if the goal is to maximize the profit?
The price-demand equation and the cost function for the production of a certain product ar r = 6940 — 20p and C(x) = 7200 + 60x + 2x², respectively, where is the number of units tha can be sold monthly at a price p (in pesos) per piece. (a) Using marginals, approximate the revenue in selling the 81st unit. (b) How many units are needed to be prepared if the goal is to minimize the average production cost per unit? (e) How many units are needed to be prepared if the goal is to maximize the profit?
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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![The price-demand equation and the cost function for the production of a certain product are
r = 6940 — 20p and C(x) = 7200 + 60x + 2x², respectively, where is the number of units that
can be sold monthly at a price p (in pesos) per piece.
(a) Using marginals, approximate the revenue in selling the 81st unit.
(b) How many units are needed to be prepared if the goal is to minimize the average production
cost per unit?
(e) How many units are needed to be prepared if the goal is to maximize the profit?](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fae7ed777-d5ea-4a32-beb9-ed1e302b977f%2F436f3277-6020-405c-9e5e-5170f8a6451d%2Fpbhheir_processed.png&w=3840&q=75)
Transcribed Image Text:The price-demand equation and the cost function for the production of a certain product are
r = 6940 — 20p and C(x) = 7200 + 60x + 2x², respectively, where is the number of units that
can be sold monthly at a price p (in pesos) per piece.
(a) Using marginals, approximate the revenue in selling the 81st unit.
(b) How many units are needed to be prepared if the goal is to minimize the average production
cost per unit?
(e) How many units are needed to be prepared if the goal is to maximize the profit?
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