Your college newspaper, The Collegiate Investigator, sells for 90¢ per copy. The cost of producing x copies of an edition is given byC(x) = 50+ 0.10x + 0.001x² dollars.(a) Calculate the marginal revenue R'(x) and profit P'(x) functions. HINT [See Example 2.]R'(x) =P'(x) =(b) Compute the revenue and profit, and also the marginal revenue and profit, if you have produced and sold 500 copies of the latest edition.$profit$marginal revenue$marginal profit $revenueInterpret the results.The approximate |---Select---per additional copyper additional copyInterpret your answer.from the sale of the 501st copy is $(c) For which value of x is the marginal profit zero?X =copiesThe graph of the profit function is a parabola with a vertex at x =so the profit is at a maximum when you produce and sellcopies.

Given the cost function, C(x) = 50 + 0.10x + 0.001x2

our college newspaper, The Collegiate Investigator, sells for 90€ per copy. The cost of producing x copies of an edition is given by C(x) = 50+ 0.10x + 0.001x2 dollars. (a) Calculate the marginal revenue R'(x) and profit P'(x) functions. HINT [See Example 2.] R'(x) = P'(x) = (b) Compute the revenue and profit, and also the marginal revenue and profit, if you have produced and sold 500 copies of the latest edition. revenue $ profit $ marginal revenue $ marginal profit $ Interpret the results. per additional copy per additional copy The approximate ---Select--- from the sale of the 501st copy is $ (c) For which value of x is the marginal profit zero? X = copies Interpret your answer. The graph of the profit function is a parabola with a vertex at x = , so the profit is at a maximum when you produce and sell copies.

our college newspaper, The Collegiate Investigator, sells for 90€ per copy. The cost of producing x copies of an edition is given by C(x) = 50+ 0.10x + 0.001x2 dollars. (a) Calculate the marginal revenue R'(x) and profit P'(x) functions. HINT [See Example 2.] R'(x) = P'(x) = (b) Compute the revenue and profit, and also the marginal revenue and profit, if you have produced and sold 500 copies of the latest edition. revenue $ profit $ marginal revenue $ marginal profit $ Interpret the results. per additional copy per additional copy The approximate ---Select--- from the sale of the 501st copy is $ (c) For which value of x is the marginal profit zero? X = copies Interpret your answer. The graph of the profit function is a parabola with a vertex at x = , so the profit is at a maximum when you produce and sell copies.

Managerial Economics: Applications, Strategies and Tactics (MindTap Course List)

14th Edition

ISBN:9781305506381

Author:James R. McGuigan, R. Charles Moyer, Frederick H.deB. Harris

Publisher:James R. McGuigan, R. Charles Moyer, Frederick H.deB. Harris

Chapter11: Price And Output Determination: Monopoly And Dominant Firms

Section: Chapter Questions

Problem 3E

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Your college newspaper, The Collegiate Investigator, sells for 90¢ per copy. The cost of producing x copies of an edition is given by C(x) = 70 + 0.10x + 0.001x2 dollars. (a) Calculate the marginal revenue R'(x) and profit P'(x) functions. HINT [See Example 2.] R'(x) = P'(x) = (b) Compute the revenue and profit, and also the marginal revenue and profit, if you have produced and sold 500 copies of the latest edition. revenue $ profit $ marginal revenue $ per additional copy marginal profit $ per additional copy Interpret the results. The approximate from the sale of the 501st copy is $ . (c) For which value of x is the marginal profit zero?x = copiesInterpret your answer. The graph of the profit function is a parabola with a vertex at x = , so the profit is at a maximum when you produce and sell copies.
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