Explanation Given Information: The monthly costs of a firm are represented by, C = 45000 + 100 x + x 3 , where x represents the number of units produced by the firm per month. Formula used: According to the power rule, if f ( x ) = x n , then, f ′ ( x ) = n x n − 1 According to the property of differentiation, if a function is of the form, g ( x ) = c f ( x ) , then, g ′ ( x ) = c f ′ ( x ) According to the property of differentiation, if a function is of the form f ( x ) = u ( x ) + v ( x ) , then, f ′ ( x ) = u ′ ( x ) + v ′ ( x ) The derivative of a constant value, k , is d d x ( k ) = 0 Calculation: Consider the provided cost function for the firm, C = 45000 + 100 x + x 3 The revenue earned from one unit of the product is $4600. Thus, for x units of the product, the revenue function is represented as, R ( x ) = 4600 x The profit function is calculated by subtracting the revenue and cost functions, P ( x ) = R ( x ) − C ( x ) = 4600 x − 450

WebAssign Printed Access Card for Harshbarger/Reynolds' Mathematical Applications for the Management, Life, and Social Sciences, 12th Edition, Multi-Term

12th Edition

ISBN: 9781337630542

Author: Ronald J. Harshbarger, James J. Reynolds

Publisher: Cengage Learning

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Chapter 9, Problem 106RE

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To calculate: The marginal profit for the firm that sells its product for $4600.

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Chapter 9, Problem 105RE

Chapter 9, Problem 107RE

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Chapter 9 Solutions

WebAssign Printed Access Card for Harshbarger/Reynolds' Mathematical Applications for the Management, Life, and Social Sciences, 12th Edition, Multi-Term

Ch. 9.1 - 1. Can exist if is undefined? Ch. 9.1 - 2. Does exist if ? Ch. 9.1 - 3. Does Ch. 9.1 - 4. If , does exist? Ch. 9.1 - 5. Let (a) Does (b) Find . Ch. 9.1 - 6. Evaluate the following limits (if they...Ch. 9.1 - Prob. 7CP Ch. 9.1 - Prob. 8CP Ch. 9.1 - Prob. 9CP Ch. 9.1 - Prob. 10CP

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The marginal profit for the firm that sells its product for $4600.

Solution Summary: The author calculates the marginal profit for a firm that sells its product for 4600 by subtracting the revenue and cost functions.

To calculate: The marginal profit for the firm that sells its product for $4600.

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Chapter 9 Solutions