Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

> Next question Get a similar question You can retry this question below Suppose the Sunglasses Hut Company has a profit function given by P(q)

image text in transcribed
> Next question Get a similar question You can retry this question below Suppose the Sunglasses Hut Company has a profit function given by P(q) = - 0.03q + 5q - 41, where q is the number of thousands of pairs of sunglasses sold and produced, and P(q) is the total profit, in thousands of dollars, from selling and producing q pairs of sunglasses. A) Find a simplified expression for the marginal profit function. (Be sure to use the proper variable in your answer.) 2 -0.01 250 Answer: MP(q) = V3 16733.3 syntax error. Check your variables - you might be using an incorrect one. B) How many pairs of sunglasses (in thousands) should be sold to maximize profits? (If necessary, round your answer to three decimal places.) Answer: 83.33 thousand pairs of sunglasses need to be sold. C) What are the actual maximum profits (in thousands) that can be expected? (If necessary, round your answer to three decimal places.) Answer: 167.33 thousand dollars of maximum profits can be expected

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

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

Essentials Of Measure Theory

Authors: Carlos S Kubrusly

1st Edition

3319225065, 9783319225067

More Books

Students also viewed these Mathematics questions