A company sees that the quantity of units (Q) demanded of their product at a given price (P) in $ was given by: P = 20 - Q/900 and that cost for making (q) units of their product was given by: C (q) = 1/100 q^2 + 5q + 10,000 Dollars A.) Find and interpret the marginal revenue when # of units made and sold is 10. B.) Find and interpret the marginal profit when the number of units made and sold is 10.
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We are given the price function P(q) = 20 - 0.966q. So, the revenue function is: R(q) = (20 - 0.966q) * q Now, we need to find the marginal revenue function, which is the derivative of the revenue function with respect to q. The marginal revenue function Show more…
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