Chapter 1.7, Problem 40E

Profit and Marginal Profit Let $P\left(x\right)$ be the profit from producing (and selling) $X$

units of goods. Match each question with proper solution.

Questions

What is the profit producing 1000 units of goods?

At what level of production will the marginal profit be 1000 dollars?

What is the marginal profit from producing 1000 units of goods?

For what level of production will the profit be 1000 dollars?

Solutions

Compute $P\text{'}\left(1000\right)$

Find the value of a for which $P\text{'}\left(a\right)=1000$.

Set $P\left(x\right)=1000$ and solve for x.

Compute $P\left(1000\right)$.