ASK YOUR TEACHERYour college newspaper, The Collegiate Investigator, sells for 90¢ per copy. The cost of producing x copies of an edition is given byC(x) = 50 + 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.revenueprofit24marginal revenue24X per additional copymarginal profit$X per additional copyInterpret the results.The approximate lossx from the sale of the 501st copy is $(c) For which value of x is the marginal profit zero?X =X copiesInterpret your answer.The graph of the profit function is a parabola with a vertex at x =so the profit is at a maximum when you produce and sellX copies.Need Heln?

Given information P= 90cent =$.9 C=50+.10X+.001X2

Answered: Your college newspaper, The Collegiate…

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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