Question
10 ma Cost, revenue, and profit are in dollars and x is the number of units. Suppose that the total revenue function for a
10 ma Cost, revenue, and profit are in dollars and x is the number of units. Suppose that the total revenue function for a product is R(x) = 45x and that the total cost function is C(x) = 2000 + 25x + 0.01x2. (a) Find the profit from the production and sale of 500 units. $ (b) Find the marginal profit function. (c) Find MP at x = 500. MP = Explain what it predicts. The total profit will ---Select--- by approximately $ on the sale of the next (501st) unit. (d) Find P(501) - P(500). $ Explain what this value represents. O This is the actual profit on the sale of the 501st unit. O This is the total profit for 501 units. O This is the total cost of 501 units. This is the actual revenue on the sale of the 501st unit. O This is the actual cost of the 501st unit.
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