The marginal revenue and profit function of the college newspaper, The College Investigator, such that cost function of producing x copies is given by the function C ( x ) = 70 + 0.10 x + 0.001 x 2 dollars where selling price of one copy is 90 cents.
The marginal revenue and profit function of the college newspaper, The College Investigator, such that cost function of producing x copies is given by the function C ( x ) = 70 + 0.10 x + 0.001 x 2 dollars where selling price of one copy is 90 cents.
Solution Summary: The author calculates the marginal revenue and profit function of the college newspaper, The College Investigator.
To calculate: The marginal revenue and profit function of the college newspaper, The College Investigator, such that cost function of producing x copies is given by the function C(x)=70+0.10x+0.001x2 dollars where selling price of one copy is 90 cents.
(b)
To determine
To calculate: The revenue, profit, marginal revenue and marginal profit if 500 copies of newspapers are sold such that cost function of producing x copies is given by the function C(x)=70+0.10x+0.001x2 dollars where selling price of one copy is 90 cents. Interpret the answers.
(c)
To determine
To calculate: The value of x when marginal profit is 0 such that cost function of producing x copies is given by the function C(x)=70+0.10x+0.001x2 dollars where selling price of one copy is 90 cents. Interpret the answers.