Cost, revenue, and profit are in dollars and x is the number of units.A firm knows that its marginal cost for a product is MC = 3x + 15, that its marginal revenue is MR = 55 − 5x, and that the cost of production of 60 units is $6,440. Find the profit at the optimal level.
Cost, revenue, and profit are in dollars and x is the number of units.A firm knows that its marginal cost for a product is MC = 3x + 15, that its marginal revenue is MR = 55 − 5x, and that the cost of production of 60 units is $6,440. Find the profit at the optimal level.
College Algebra (MindTap Course List)
12th Edition
ISBN:9781305652231
Author:R. David Gustafson, Jeff Hughes
Publisher:R. David Gustafson, Jeff Hughes
Chapter4: Polynomial And Rational Functions
Section4.1: Quadratic Functions
Problem 6SC: A company that makes and sells baseball caps has found that the total monthly cost C in dollars of...
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Cost, revenue, and profit are in dollars and x is the number of units.
A firm knows that its marginal cost for a product is
MC = 3x + 15,
that its marginal revenue is
MR = 55 − 5x,
and that the cost of production of 60 units is $6,440.
Find the profit at the optimal level.
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