For q units of a product, a manufacturers cost is C(q) dollars and revenue is R(q) dollars,

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For q units of a product, a manufacturer’s cost is C(q) dollars and revenue is R(q) dollars, with C(500) = 7200, R(500) = 9400, MC(500) = 15, and MR(500) = 20.
(a) What is the profit or loss at q = 500?
(b) If production is increased from 500 to 501 units, by approximately how much does profit change?

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Applied Calculus

ISBN: 9781119275565

6th Edition

Authors: Deborah Hughes Hallett, Patti Frazer Lock, Andrew M. Gleason, Daniel E. Flath, Sheldon P. Gordon, David O. Lomen, David Lovelock, William G. McCallum, Brad G. Osgood, Andrew Pasquale

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Question Posted: Apr 11, 2023 12:22 AM

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For q units of a product, a manufacturers cost is C(q) dollars and revenue is R(q) dollars,

Question:

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a For q 500 Profit 500 R500 C500 9400 7200 ...View the full answer

Applied Calculus

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