1. The daily cost (in dollars) of producing LG ultra high definition televisions is given by C(x) = 9x5 - 10x- + 70x + 900 where * denotes the number of thousands of televisions produced in a day. (a) Compute the average cost function, C(x). C(x ) = (b) Compute the marginal average cost function, C'(x). C'( x )= (c) Using the marginal average cost function, C'(x), approximate the marginal average cost when 3000 televisions have been produced. The daily cost (in dollars) of producing Samsung VR headsets is given by 2. C(x) = 2500 + 800x2 + 4x3 where * denotes the number of headsets produced in a day and the total revenue in dollars is given by R(x) = 9000x - 90x2 Using the marginal average profit function, P'(x), approximate the marginal average profit when 5 headsets have been produced and sold. Given the demand equation x + - - 20 = 0, where p represents the price in dollars and x the number of units, determine the value of p where the elasticity of demand is unitary. 3. Price, p = dollars This is the price at which total revenue is O maximized O minimized Given the demand equation x + 24p = 320, where p represents the price in dollars and * the number of units, determine the value of p where the elasticity of demand is unitary. 4. Price, p = dollars If the current price is 9 dollars and price is increased by 1%, then total revenue will O increase O decrease