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A nursery determines the demand in May for potted plants in p=3 - (x/1000). The cost of growing x plant is C(x) = 0.02x+400, 0≤ x ≤ 6000. Determine the marginal profit function.

 

a) 2.98x - (x^2/1000) 

b) 2.98 - (x/500) 

c) 2.98x - (x^2/1000) + 400 

d) 2.98 + (x/500)

 Mar 30, 2018
 #1
avatar+95951 
+1

Sorry, Julius...I don't know this one...!!!

 

 

cool cool cool

 Mar 30, 2018
 #2
avatar+349 
+2

Marginal Profit = Marginal Revenue - Marginal Cost

 

Marginal Cost = C'(x) = 0.02

Revenue = No. of Items sold * Price = x * (3 -  (x/1000)) = \(-{x^2\over1000}+3x\)

Marginal Revenue = R'(x) = \(-{x\over500}+3\)

Marginal Profit = \(-{x\over500}+3-0.02\) = \(2.98-{x\over500}\)

 

The answer is letter B smiley

 Mar 31, 2018
 #3
avatar+95951 
+1

Thanks, Mathhemathh!!!....great answer  !!!

 

 

cool cool cool

CPhill  Mar 31, 2018

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