The cost of producing q units of a good is C(q)=50q+500, and the firm sells q units at p(q)=500-2q. Determine the approximate change in profit when quantity sold changes from 115 to 120. How different is the actual change and the approximate change from each other?

College Algebra
1st Edition
ISBN:9781938168383
Author:Jay Abramson
Publisher:Jay Abramson
Chapter3: Functions
Section3.2: Domain And Range
Problem 61SE: The cost in dollars of making x items is given by the function Cx)=10x+500. a. The fixed cost is...
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The cost of producing ? units of a good is ?(?)=50?+500, and the firm sells ? units at ?(?)=500−2?. Determine the approximate change in profit when quantity sold changes from 115 to 120. How different is the actual change and the approximate change from each other?

The cost of producing q units of a good is C(q)=50q+500, and the firm sells q units
at p(g)=500-2g. Determine the approximate change in profit when quantity sold
changes from 115 to 120. How different is the actual change and the approximate
change from each other?
Transcribed Image Text:The cost of producing q units of a good is C(q)=50q+500, and the firm sells q units at p(g)=500-2g. Determine the approximate change in profit when quantity sold changes from 115 to 120. How different is the actual change and the approximate change from each other?
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