Quantcast

A community for students. Sign up today!

Here's the question you clicked on:

55 members online
  • 0 replying
  • 0 viewing

IsTim

  • 2 years ago

A yogurt company estimates that the revenue from selling x containers of yogurt is 4.5x. Its cost, C, in dollars, for producing this # of containers of yogurt is C(s)=0.0001x^2+2x+3200. Determine the marginal profit from selling 4000 containers of yogurt.

  • This Question is Closed
  1. IsTim
    • 2 years ago
    Best Response
    You've already chosen the best response.
    Medals 0

    So my answer was $5.70, but the actual answer was something like $1.70.

  2. IsTim
    • 2 years ago
    Best Response
    You've already chosen the best response.
    Medals 0

    My formula, to find the profit equation, is P(x)=R(x)-C(x), which was 4.5x-0.0001x^2+2x+3200.

  3. IsTim
    • 2 years ago
    Best Response
    You've already chosen the best response.
    Medals 0

    The derivative was P'(x)=-0.0002x+6.5 (according to my work, not sure). I then subbed in 4000 into that equation.

  4. tiaph
    • 2 years ago
    Best Response
    You've already chosen the best response.
    Medals 1

    I think the error made is when u calculate marginal profits from total profits. Don't think it work that way. Marginal profits must be calculated from marginal cost and marginal revenue. So i went ahead to differentiate total cost, Marginal Cost, MC = 0.0002x+2 Substitute x= 4000, MC= 0.0002(4000)+2 = 2.8 Differentiating total revenue, marginal revenue, MR = 4.5 Marginal Profits = Marginal Revenue - Marginal Cost = 4.5 - 2.8 =1.7

  5. IsTim
    • 2 years ago
    Best Response
    You've already chosen the best response.
    Medals 0

    Ok. Give me a second, I need a drink of water.

  6. IsTim
    • 2 years ago
    Best Response
    You've already chosen the best response.
    Medals 0

    Ok. thank you. I figured it out with your assistance.

  7. tiaph
    • 2 years ago
    Best Response
    You've already chosen the best response.
    Medals 1

    np. Glad to be of help.

  8. Not the answer you are looking for?
    Search for more explanations.

    • Attachments:

Ask your own question

Ask a Question
Find more explanations on OpenStudy

Your question is ready. Sign up for free to start getting answers.

spraguer (Moderator)
5 → View Detailed Profile

is replying to Can someone tell me what button the professor is hitting...

23

  • Teamwork 19 Teammate
  • Problem Solving 19 Hero
  • You have blocked this person.
  • ✔ You're a fan Checking fan status...

Thanks for being so helpful in mathematics. If you are getting quality help, make sure you spread the word about OpenStudy.

This is the testimonial you wrote.
You haven't written a testimonial for Owlfred.