Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

A manufacturer can produce digital recorders at a cost of 5050 dollars each. It is estimated that if the recorders are sold for pp dollars

A manufacturer can produce digital recorders at a cost of 5050 dollars each. It is estimated that if the recorders are sold for pp dollars apiece, consumers will buy q=120pq=120p recorders each month.

a) Express the manufacturer's profit P as a function of q. P = __________

b) What is the average rate of profit obtained as the level of production increases from q=0 to q=15?

The average rate of profit is __________ dollars per unit.

c) At what rate is profit changing when q=15 recorders are produced?

The rate at which the profit is changing is __________ dollars per unit.

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Algebra And Trigonometry Enhanced With Graphing Utilities (Subscription)

Authors: Michael Sullivan, Michael Sullivan III

8th Edition

0135813158, 9780135813157

More Books

Students also viewed these Mathematics questions

Question

What are the big five personality traits? (p. 60)

Answered: 1 week ago

Question

3. What is my goal?

Answered: 1 week ago

Question

2. I try to be as logical as possible

Answered: 1 week ago