- 80000 dollars. The group intends to sell

Algebra and Trigonometry (MindTap Course List)
4th Edition
ISBN:9781305071742
Author:James Stewart, Lothar Redlin, Saleem Watson
Publisher:James Stewart, Lothar Redlin, Saleem Watson
Chapter2: Functions
Section2.4: Average Rate Of Change Of A Function
Problem 4.2E: bThe average rate of change of the linear function f(x)=3x+5 between any two points is ________.
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Socks Problem
A group of business students create a working plan for their proposed socks brand
Holy Socks! Company. The total production cost of x pairs of socks is expected to be given by
C(x) = x² +500x + 80000 dollars. The group intends to sell at p(x) = 1000 - x dollars per
pair.
a. What will be the marginal profit when 100 pairs are sold?
b. At what production level will the average cost per pair be at a minimum?
Transcribed Image Text:A group of business students create a working plan for their proposed socks brand Holy Socks! Company. The total production cost of x pairs of socks is expected to be given by C(x) = x² +500x + 80000 dollars. The group intends to sell at p(x) = 1000 - x dollars per pair. a. What will be the marginal profit when 100 pairs are sold? b. At what production level will the average cost per pair be at a minimum?
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