Math 110 Course Resources - Marginal Analysis & Elasticity Course Packet on marginal analysis If the demand function for math self-help videos is given by 35 0.8x, and the total cost function to manufacture the videos is given by 3x + 38, evaluate the marginal profit function at x = 20. Marginal Profit = [2.8 X This means that if production and sales increase by one unit, then total profit will increase @ decrease X by approximately (2.8 dollars. Math 110 Course Resources - Marginal Analysis & Elasticity Course Packet on marginal analysis The weekly demand for Xbox Math-Hero video games is given by p = x3 - 190x + 1500 where x is the number of Xbox video games produced and sold, and p is in dollars. Using the Marginal Revenue function, R'(x), approximate the marginal revenue when 10 Math-Hero video games have been produced and sold. 110 dollars Math 110 Course Resources - Marginal Analysis & Elasticity Course Packet on marginal analysis The weekly demand for Math Wars - The Force Multiplies video games is given by p=+1500 xX-9 where x is the number of thousands of video games produced and sold, and p is in dollars. Using the Marginal Revenue function, R'(x), approximate the marginal revenue when 18,000 video games have been produced and sold. dollars Math 110 Course Resources - Marginal Analysis & Elasticity Course Packet on marginal analysis The daily cost (in dollars) of producing LG ultra high definition televisions is given by C(x) = 6x3 40x2 + 40x + 1600 where x denotes the number of thousands of televisions produced in a day. (a) Compute the average cost function, E'(x). C(x) = (b) Compute the marginal average cost function, (_:'(x). C'(x) = (c) Using the marginal average cost function, E'(x), approximate the marginal average cost when 4000 televisions have been produced. Math 110 Course Resources - Marginal Analysis & Elasticity Course Packet on marginal analysis The daily cost (in dollars) of producing Samsung VR headsets is given by C(x) = 900 + 500x2 + 8x> where x denotes the number of headsets produced in a day and the total revenue in dollars is given by R(x) = 2000x 80x2 Using the marginal average profit function, l_\"(x), approximate the marginal average profit when 3 headsets have been produced and sold. Math 110 Course Resources - Marginal Analysis & Elasticity Course Packet on elasticity of demand Given the demand equation p + X = 16, where p represents the price in dollars and x the number of units, determine the elasticity of demand when the price p is equal to $10. Elasticity of Demand = :} Therefore, demand is O elastic O unitary O inelastic when price is equal to $10 and a small increase in price will result in O an increase in total revenue. O a decrease in total revenue. O little to no change in total revenue. Math 110 Course Resources - Marginal Analysis & Elasticity Course Packet on elasticity of demand Given the demand equation x = 10 +i, where p represents the price in dollars and x the number of units, determine the elasticity of demand when the price p is equal to $10. Elasticity of Demand = l:] Therefore, demand is O unitary O inelastic O elastic when price is equal to $10 and a small increase in price will result in O little to no change in total revenue. O an increase in total revenue. O a decrease in total revenue