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Cost, revenue, and profit are in dollars and x is the number of units. Suppose that the total revenue function for a product is R(x) = 40x and that the total cost function is C(x) = 2200 + 20x + 0.01x². (a) Find the profit from the production and sale of 500 units. $ (b) Find the marginal profit function. (c) Find MP at x = 500. MP = Explain what it predicts. The total profit will--Select---by approximately $ (d) Find P(501) - P(500). $ Explain what this value represents. O This is the total cost of 501 units. O This is the actual profit on the sale of the 501st unit. O This is the actual cost of the 501st unit. O This is the actual revenue on the sale of the 501st unit. O This is the total profit for 501 units. on the sale of the next (501st) unit.

Cost, revenue, and profit are in dollars and x is the number of units. Suppose that the total revenue function for a product is R(x) = 40x and that the total cost function is C(x) = 2200 + 20x + 0.01x². (a) Find the profit from the production and sale of 500 units. $ (b) Find the marginal profit function. (c) Find MP at x = 500. MP = Explain what it predicts. The total profit will--Select---by approximately $ (d) Find P(501) - P(500). $ Explain what this value represents. O This is the total cost of 501 units. O This is the actual profit on the sale of the 501st unit. O This is the actual cost of the 501st unit. O This is the actual revenue on the sale of the 501st unit. O This is the total profit for 501 units. on the sale of the next (501st) unit.

Calculus For The Life Sciences
Calculus For The Life Sciences
2nd Edition
ISBN:9780321964038
Author:GREENWELL, Raymond N., RITCHEY, Nathan P., Lial, Margaret L.
Publisher:GREENWELL, Raymond N., RITCHEY, Nathan P., Lial, Margaret L.
Chapter4: Calculating The Derivative
Section4.4: Derivatives Of Exponential Functions
Problem 56E
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Cost, revenue, and profit are in dollars and x is the number of units. Suppose that the total revenue function for a product is R(x) = 40x and that the total cost function is C(x) = 2200 + 20x + 0.01x². (a) Find the profit from the production and sale of 500 units. $ (b) Find the marginal profit function. (c) Find MP at x = 500. MP = Explain what it predicts. The total profit will --Select---by approximately $ (d) Find P(501) - P(500). $ Explain what this value represents. O This is the total cost of 501 units. O This is the actual profit on the sale of the 501st unit. O This is the actual cost of the 501st unit. O This is the actual revenue on the sale of the 501st unit. O This is the total profit for 501 units. on the sale of the next (501st) unit.
Transcribed Image Text:Cost, revenue, and profit are in dollars and x is the number of units. Suppose that the total revenue function for a product is R(x) = 40x and that the total cost function is C(x) = 2200 + 20x + 0.01x². (a) Find the profit from the production and sale of 500 units. $ (b) Find the marginal profit function. (c) Find MP at x = 500. MP = Explain what it predicts. The total profit will --Select---by approximately $ (d) Find P(501) - P(500). $ Explain what this value represents. O This is the total cost of 501 units. O This is the actual profit on the sale of the 501st unit. O This is the actual cost of the 501st unit. O This is the actual revenue on the sale of the 501st unit. O This is the total profit for 501 units. on the sale of the next (501st) unit.
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