Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

I need the answer for marginal profit MP? 13. [1.5/2 Points] DETAILS PREVIOUS ANSWERS HARMATHAP12 1.6.009. MY NOTES ASK YOUR TEACHER PRACTICE ANOTHER Let C(x)

image text in transcribed

I need the answer for marginal profit MP?

image text in transcribed
13. [1.5/2 Points] DETAILS PREVIOUS ANSWERS HARMATHAP12 1.6.009. MY NOTES ASK YOUR TEACHER PRACTICE ANOTHER Let C(x) = 2x + 950 and R(x) = 28x. (a) Write the profit function P(x). P(x) = 26x - 950 That's great! (b) What is the slope m of the profit function? m = 26 Great work. (c) What is the marginal profit MP? MP = 2 X (d) Interpret the marginal profit. This is the smallest number of units that can be sold in order to make a profit. Each additional unit sold increases the profit by this much. The profit is maximized when this many units are sold. O Each additional unit sold decreases the profit by this much. Excellent job

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access with AI-Powered Solutions

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

Step: 2

blur-text-image

Step: 3

blur-text-image

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

The Changing Geography Of Banking And Finance

Authors: Pietro Alessandrini ,Michele Fratianni ,Alberto Zazzaro

1st Edition

1441947205, 978-1441947208

Students also viewed these Mathematics questions

Question

3. Provide time for independent and extended projects.

Answered: 1 week ago