Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

A market research department is recommending a new headphone set for MP3 players to the production and marketing department. Once marketing testing complete the market

A market research department is recommending a new headphone set for MP3 players to the production and marketing department. Once marketing testing complete the market research department presents the following demand equation: = 10 0.001 where x is the number of headphones that retailers are likely to buy at $p per set.

The financial department provides the cost function: () = 7000 + 2

(a) Find the marginal profit for 2000 headphones.

(b) Compute the approximate changes in profit if the number of headphones is increase from 2000 to 3100. Interpret your answer.

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

Modeling the Dynamics of Life Calculus and Probability for Life Scientists

Authors: Frederick R. Adler

3rd edition

840064187, 978-1285225975, 128522597X, 978-0840064189

More Books

Students also viewed these Mathematics questions