The monthly demand function for x units of a product sold by a monopoly is p = 5,200² dollars, and its average c Find the revenue function, R(x), in dollars. R(x) = Find the cost function, C(x), in dollars. C(x) = Find the profit function, P(x), in dollars. P(x) = Find P'(x). P'(x) = Find the number of units that maximizes profits. (Round your answer to the nearest whole number.)

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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The monthly demand function for x units of a product sold by a monopoly is p = 5,200 -1x² dollars, and its average cost is C = 3,030 + 2x dollars. Production is limited to 100 units.
Find the revenue function, R(x), in dollars.
R(x) =
Find the cost function, C(x), in dollars.
C(x) =
Find the profit function, P(x), in dollars.
P(x) =
Find P'(x).
P'(x) =
Find the number of units that maximizes profits. (Round your answer to the nearest whole number.)
units
Find the maximum profit. (Round your answer to the nearest cent.)
$
Does the maximum profit result in a profit or loss?
O profit
Oloss
Transcribed Image Text:The monthly demand function for x units of a product sold by a monopoly is p = 5,200 -1x² dollars, and its average cost is C = 3,030 + 2x dollars. Production is limited to 100 units. Find the revenue function, R(x), in dollars. R(x) = Find the cost function, C(x), in dollars. C(x) = Find the profit function, P(x), in dollars. P(x) = Find P'(x). P'(x) = Find the number of units that maximizes profits. (Round your answer to the nearest whole number.) units Find the maximum profit. (Round your answer to the nearest cent.) $ Does the maximum profit result in a profit or loss? O profit Oloss
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