Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

please answer A,B, and C because they all pertain to one question per chegg rules 1. Some values of the marginal profit from the sales

image text in transcribedplease answer A,B, and C because they all pertain to one question per chegg rules

1. Some values of the marginal profit from the sales of a product are given in the table below. 7 3 1 0 0 Sales 50 100 150 200 250 300 350 400 Marginal Profit --4-2 5 (a) Use linear approximation to estimate how much profit would change in moving from a sales level of 100 to 120. (Hint: you should get an answer of 60.] (b) What is the sign of the second derivative of profit near a sales level of 100? What does that tell us about whether or not our answer in the previous part is likely to be an overestimate or an underestimate? (c) What level of sales appears to provide a local minimum of the profit function? A local maximum? 1. Some values of the marginal profit from the sales of a product are given in the table below. 7 3 1 0 0 Sales 50 100 150 200 250 300 350 400 Marginal Profit --4-2 5 (a) Use linear approximation to estimate how much profit would change in moving from a sales level of 100 to 120. (Hint: you should get an answer of 60.] (b) What is the sign of the second derivative of profit near a sales level of 100? What does that tell us about whether or not our answer in the previous part is likely to be an overestimate or an underestimate? (c) What level of sales appears to provide a local minimum of the profit function? A local maximum

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

More Books

Students also viewed these Finance questions

Question

8. Explain the contact hypothesis.

Answered: 1 week ago

Question

2. Define the grand narrative.

Answered: 1 week ago