Apply two decimal place rounding where applicable. The profit function of a certain firm is f(x) = -2x² + 396x - 400, where x denotes units of product produced, and f(x) is in Rands. Using the a) two-point forward difference formula (obtained from Taylor's Theorem), the firm's marginal profit (i.e., the instantaneous rate of change of its profit w.r.t production x) for x = 20 and h = 1 is:
Apply two decimal place rounding where applicable. The profit function of a certain firm is f(x) = -2x² + 396x - 400, where x denotes units of product produced, and f(x) is in Rands. Using the a) two-point forward difference formula (obtained from Taylor's Theorem), the firm's marginal profit (i.e., the instantaneous rate of change of its profit w.r.t production x) for x = 20 and h = 1 is:
Chapter3: Functions
Section3.2: Domain And Range
Problem 61SE: The cost in dollars of making x items is given by the function Cx)=10x+500. a. The fixed cost is...
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Transcribed Image Text:Apply two decimal place rounding where applicable.
The profit function of a certain firm is
f(x) = -2x² + 396x - 400,
where x denotes units of product produced, and f(x) is in Rands.
Using the
a) two-point forward difference formula (obtained from Taylor's Theorem), the
firm's marginal profit (i.e., the instantaneous rate of change of its profit w.r.t.
production x) for x = 20 and h = 1 is:
Transcribed Image Text:b) two-point backward difference formula (obtained from Taylor's Theorem), the
firm's marginal profit (i.e., the instantaneous rate of change of its profit w.r.t.
production x) for xo = 20 and h = 1 is:
f'(x₁) =
c) two-point central difference formula (obtained from Taylor's Theorem), the
firm's marginal profit (i.e., the instantaneous rate of change of its profit w.r.t.
production x) for xo = 20 and h = 1 is:
f'(xo) =
d) three-point central difference formula (obtained from Taylor's Theorem) with
Xo = 20 and h = 1 yields:
f" (xo) =
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