The profit, in thousands of dollars, from the sale of x thousand candles can be estimated by
Question:
The profit, in thousands of dollars, from the sale of x thousand candles can be estimated by P(x)=3x0.7xlnx.
Complete parts (a) through (c).
a) Find the marginal profit, P(x).
P(x)=
b) Find P(11), and explain what this number represents.
P(11)=
(integer or decimal rounded to the nearest thousandth as needed.)
What does P(11) represent? A, B, C, or D?
A.
The additional profit, in thousands of dollars, when
11,000
candles are sold.
B.
The additional cost, in thousands of dollars, to produce
11,000
candles.
C.
The additional profit, in thousands of dollars, for selling a thousand candles once
11,000
candles have already been sold.
D.
The additional cost, in thousands of dollars, to produce a thousand candles once
11,000
candles have already been sold.
c) How many thousands of candles should be sold to maximize profit?
(integer or decimal rounded to the nearest thousandth as needed.)
Expert Answer:
