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The price-demand equation and cost function for the production of vacuums are given as follows: p(x) = 250 - 0.005x and C(x) = 100,000 +
The price-demand equation and cost function for the production of vacuums are given as follows: p(x) = 250 - 0.005x and C(x) = 100,000 + 20x where x is the number of vacuums that can be sold at $p per vacuum and C(x) is the total cost (in dollars) of producing x vacuums. (12 points) 1. Find the profit function. 2. Find the equation for the marginal profit. 3. Find the marginal profit when x = 1500 and interpret this quantity
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