Here is the production cost function, in $ of producing q units of a product:2200C(q) = 300 + 0.8q2 +and the demand function of the product is:p(x) = 200 - 0.05qa. Determine the marginal cost, marginal revenue and marginal profit when q=50 and q=150?b. Interpret the results of the calculation in part (a) if it is related to cost, revenueand profit?

If cost function, revenue function and profit function are C = C (q) R = R (q) P = P (q)…

Here is the production cost function, in $ of producing q units of a product: 2200 C(q) = 300 + 0.8q² + %3D and the demand function of the product is: p(x) = 200 - 0.05q %3D a. Determine the marginal cost, marginal revenue and marginal profit when q=50 and q=150? b. Interpret the results of the calculation in part (a) if it is related to cost, revenue and profit?

Here is the production cost function, in $ of producing q units of a product: 2200 C(q) = 300 + 0.8q² + %3D and the demand function of the product is: p(x) = 200 - 0.05q %3D a. Determine the marginal cost, marginal revenue and marginal profit when q=50 and q=150? b. Interpret the results of the calculation in part (a) if it is related to cost, revenue and profit?

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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