Your college newspaper, The Collegiate Investigator, sells for 90¢ per copy. The cost of producing x copies of an edition is given by C(x) = 80+ 0.10x + 0.001x² dollars. (a) Calculate the marginal revenue R'(x) and profit P'(x) functions. HINT [See Example 2.] R'(x) = P'(x) = (b) Compute the revenue and profit, and also the marginal revenue and profit, if you have produced and sold 500 copies of the latest edition. revenue $ profit $ marginal revenue $ marginal profit $ Interpret the results. The approximate loss per additional copy per additional copy Interpret your answer. ✓ from the sale of the 501st copy is $ (c) For which value of x is the marginal profit zero? X = copies The graph of the profit function is a parabola with a vertex at x = copies. , so the profit is at a maximum when you produce and sell
Your college newspaper, The Collegiate Investigator, sells for 90¢ per copy. The cost of producing x copies of an edition is given by C(x) = 80+ 0.10x + 0.001x² dollars. (a) Calculate the marginal revenue R'(x) and profit P'(x) functions. HINT [See Example 2.] R'(x) = P'(x) = (b) Compute the revenue and profit, and also the marginal revenue and profit, if you have produced and sold 500 copies of the latest edition. revenue $ profit $ marginal revenue $ marginal profit $ Interpret the results. The approximate loss per additional copy per additional copy Interpret your answer. ✓ from the sale of the 501st copy is $ (c) For which value of x is the marginal profit zero? X = copies The graph of the profit function is a parabola with a vertex at x = copies. , so the profit is at a maximum when you produce and sell
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
Related questions
Question
![Your college newspaper, The Collegiate Investigator, sells for 90¢ per copy. The cost of producing x copies of an edition is given by
C(x) = 80+ 0.10x + 0.001x² dollars.
(a) Calculate the marginal revenue R'(x) and profit P'(x) functions. HINT [See Example 2.]
R'(x) =
P'(x)
=
(b) Compute the revenue and profit, and also the marginal revenue and profit, if you have produced and sold 500 copies of the latest edition.
$
profit
$
marginal revenue $
marginal profit $
revenue
per additional copy
per additional copy](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F54cd7557-de6f-4af4-8ae2-06fb3ac34f96%2F85ebb9b0-8952-4bde-a9df-1214a0897d7f%2F6z8kdv5_processed.png&w=3840&q=75)
Transcribed Image Text:Your college newspaper, The Collegiate Investigator, sells for 90¢ per copy. The cost of producing x copies of an edition is given by
C(x) = 80+ 0.10x + 0.001x² dollars.
(a) Calculate the marginal revenue R'(x) and profit P'(x) functions. HINT [See Example 2.]
R'(x) =
P'(x)
=
(b) Compute the revenue and profit, and also the marginal revenue and profit, if you have produced and sold 500 copies of the latest edition.
$
profit
$
marginal revenue $
marginal profit $
revenue
per additional copy
per additional copy
![Your college newspaper, The Collegiate Investigator, sells for 90¢ per copy. The cost of producing x copies of an edition is given by
C(x) = 80+ 0.10x + 0.001x² dollars.
(a) Calculate the marginal revenue R'(x) and profit P'(x) functions. HINT [See Example 2.]
R'(x)
=
P'(x) =
(b) Compute the revenue and profit, and also the marginal revenue and profit, if you have produced and sold 500 copies of the latest edition.
$
$
$
$
revenue
profit
marginal revenue
marginal profit
Interpret the results.
The approximate loss
per additional copy
per additional copy
Interpret your answer.
from the sale of the 501st copy is $
(c) For which value of x is the marginal profit zero?
X =
copies
The graph of the profit function is a parabola with a vertex at x =
copies.
so the profit is at a maximum when you produce and sell
I](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F54cd7557-de6f-4af4-8ae2-06fb3ac34f96%2F85ebb9b0-8952-4bde-a9df-1214a0897d7f%2F46frcgi_processed.png&w=3840&q=75)
Transcribed Image Text:Your college newspaper, The Collegiate Investigator, sells for 90¢ per copy. The cost of producing x copies of an edition is given by
C(x) = 80+ 0.10x + 0.001x² dollars.
(a) Calculate the marginal revenue R'(x) and profit P'(x) functions. HINT [See Example 2.]
R'(x)
=
P'(x) =
(b) Compute the revenue and profit, and also the marginal revenue and profit, if you have produced and sold 500 copies of the latest edition.
$
$
$
$
revenue
profit
marginal revenue
marginal profit
Interpret the results.
The approximate loss
per additional copy
per additional copy
Interpret your answer.
from the sale of the 501st copy is $
(c) For which value of x is the marginal profit zero?
X =
copies
The graph of the profit function is a parabola with a vertex at x =
copies.
so the profit is at a maximum when you produce and sell
I
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