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Let C(x) = 3x + 750 and R(x) = 29x. (a) Write the profit function P(x). P(x) = 26x – 750 (b) What is the slope m of the profit function? m = 26 (c) What is the marginal profit MP? MP = (d) Interpret the marginal profit. O Each additional unit sold increases the profit by this much. O This is the smallest number of units that can be sold in order to make a profit. O Each additional unit sold decreases the profit by this much. O The profit is maximized when this many units are sold.

Let C(x) = 3x + 750 and R(x) = 29x. (a) Write the profit function P(x). P(x) = 26x – 750 (b) What is the slope m of the profit function? m = 26 (c) What is the marginal profit MP? MP = (d) Interpret the marginal profit. O Each additional unit sold increases the profit by this much. O This is the smallest number of units that can be sold in order to make a profit. O Each additional unit sold decreases the profit by this much. O The profit is maximized when this many units are sold.

College Algebra
College Algebra
1st Edition
ISBN:9781938168383
Author:Jay Abramson
Publisher:Jay Abramson
Chapter4: Linear Functions
Section4.1: Linear Functions
Problem 121SE: Suppose that average annual income (in dollars) forthe years 1990 through 1999 is given by the...
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Hello, 

I need help with 2 problems

One problem I got stuff with part c:

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Let C(x) = 3x + 750 and R(x) = 29x. %3D (a) Write the profit function P(x). P(x) = 26x – 750 (b) What is the slope m of the profit function? m = 26 (c) What is the marginal profit MP? MP %3D (d) Interpret the marginal profit. Each additional unit sold increases the profit by this much. O This is the smallest number of units that can be sold in order to make a profit. O Each additional unit sold decreases the profit by this much. O The profit is maximized when this many units are sold.
Transcribed Image Text:Let C(x) = 3x + 750 and R(x) = 29x. %3D (a) Write the profit function P(x). P(x) = 26x – 750 (b) What is the slope m of the profit function? m = 26 (c) What is the marginal profit MP? MP %3D (d) Interpret the marginal profit. Each additional unit sold increases the profit by this much. O This is the smallest number of units that can be sold in order to make a profit. O Each additional unit sold decreases the profit by this much. O The profit is maximized when this many units are sold.
A linear revenue function is R = 40x. (Assume R is measured in dollars.) (a) What is the slope m? m = (b) What is the marginal revenue MR ? MR = %3D What does the marginal revenue mean? O If the number of units sold is increased by this amount, the revenue increases by $1. Each additional unit sold yields this many dollars in revenue. O Each additional unit sold decreases the revenue by this many dollars. O If the number of units sold is increased by this amount, the revenue decreases by $1. (c) What is the revenue received from selling one more item if 50 are currently being sold? What is the revenue received from selling one more item if 100 are being sold? %24 %24
Transcribed Image Text:A linear revenue function is R = 40x. (Assume R is measured in dollars.) (a) What is the slope m? m = (b) What is the marginal revenue MR ? MR = %3D What does the marginal revenue mean? O If the number of units sold is increased by this amount, the revenue increases by $1. Each additional unit sold yields this many dollars in revenue. O Each additional unit sold decreases the revenue by this many dollars. O If the number of units sold is increased by this amount, the revenue decreases by $1. (c) What is the revenue received from selling one more item if 50 are currently being sold? What is the revenue received from selling one more item if 100 are being sold? %24 %24
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