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

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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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

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