Logo
Home Study Material Contact Search
AI Chat FREE
  1. mathematics
  2. basic math
  3. suppose a company's revenue function is given by r

Suppose a company's revenue function is given by R(q)=−q3+320q2R(q)=-q3+320q2 and its cost function is given by C(q)=290+20qC(q)=290+20q,...

70.2K

Verified Solution

Question

Basic Math

Suppose a company's revenue function is given byR(q)=−q3+320q2R(q)=-q3+320q2 and its cost function is given byC(q)=290+20qC(q)=290+20q, where qq is hundreds of unitssold/produced, while R(q)R(q) and C(q)C(q) are in total dollars ofrevenue and cost, respectively.

A) Find a simplified expression for the marginal profit function.(Be sure to use the proper variable in your answer.)

MP(q)=MP(q)=     

B) How many items (in hundreds) need to be sold to maximizeprofits? (Round your answer to two decimal places.)

Answer & Explanation Solved by verified expert
4.3 Ratings (893 Votes)
PARTaThe given revenue function isThe given cost function isThe profit function is    See Answer
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Zin AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Q

4. In terms of intermolecular interactions, try to account for the differences in melting point between...

Chemistry
Q

Robert Agnew argues that criminal behavior is the result of General Strain that an individual may...

Psychology
Q

A professional school counselor wants to set up a group for high school students. List and...

Psychology
Q

When identical point charges are placed at the vertices of a cube of edge length...

Physics
Q

Orange juice a raisin bagel and a cup of coffee from Billy s Breakfast Bar...

Calculus
Q

In 2 minutes, a conveyor belt moves 300 pounds of recyclable aluminum from the delivery...

Algebra
Q

12-35(OBJECTIVE 12-7) This problem requires the use of ACL software, which can be...

Accounting
Q

QUESTION 32 Sophia's Delivery Service charges a $56 service fee. The variable cost...

Accounting
Q

Check my work Magic Realm, Incorporated, has developed a new fantasy board game. The company...

Accounting
Q

The company ran out of cake and pastry flour, which is a key ingredient. They...

Accounting
Q

Paloma Company has four employees. FICA Social Security taxes are 6.2% of the first $132,900...

Accounting
Q

Parker exercised a nonstatutory stock option on May 31, 2022. He paid $8,000 for 100...

Accounting