Question

Suppose a company's revenue function is given by R(q) = -q^3 + 200q^2 and its cost function is given by C(q) = 100 + 12q, where q is hundreds of units sold/produced, while R(q) and C(q) are in total dollars of revenue and cost, respectively. A) Find a simplified expression for the marginal profit function. (Be sure to use the proper variable in your answer.) MP(q) = B) How many items (in hundreds) need to be sold to maximize profits? Answer: hundred units must be sold. (Round to two decimal places.)

          Suppose a company's revenue function is given by R(q) = -q^3 + 200q^2 and its cost function is given by C(q) = 100 + 12q, where q is hundreds of units sold/produced, while R(q) and C(q) are in total dollars of revenue and cost, respectively.

A) Find a simplified expression for the marginal profit function. (Be sure to use the proper variable in your answer.)

MP(q) =

B) How many items (in hundreds) need to be sold to maximize profits?

Answer: hundred units must be sold. (Round to two decimal places.)

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Suppose a company's revenue function is given by R(q) = -q^3 + 200q^2 and its cost function is given by C(q) = 100 + 12q, where q is hundreds of units sold/produced, while R(q) and C(q) are in total dollars of revenue and cost, respectively.

A) Find a simplified expression for the marginal profit function. (Be sure to use the proper variable in your answer.)

MP(q) =

B) How many items (in hundreds) need to be sold to maximize profits?

Answer: hundred units must be sold. (Round to two decimal places.)

Added by Juana E.

Calculus: Early Transcendentals

James Stewart 8th Edition

Instant Answer

Solved by Expert Vishal Parmar

07/13/2022

Step 1

Step 1: Find the profit function by subtracting the cost function from the revenue function: \[ P(q) = R(q) - C(q) = (93 + 200q) - (100 + 12q) = 93 + 200q - 100 - 12q = 93 + 200q - 100 - 12q = 93 + 188q \] Show more…

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Suppose the company's revenue function is given by R(q) = 93 + 200q, and its cost function is given by C(q) = 100 + 12q, where q is the number of units sold in hundreds. R(q) and C(q) represent the total revenue and cost in dollars, respectively. A) Find the simplified expression for the marginal profit function. (Be sure to use the proper variable in your answer): MP(q) B) How many items (in hundreds) need to be sold to maximize profits? Answer: A hundred units must be sold. (Round to two decimal places)

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