Suppose a cannery investigates the finances for its largest plant. A model of co

Question

Suppose a cannery investigates the finances for its largest plant. A model of cost is found to be: C(g 0.025q229.4q 254. Revenue is modeled by R() 59q370. Both revenue and cost are measured in thousands of dollars and q is the annual pounds of canned items (in thousands) produced by the plant. Identify the following: A) The Marginal Cost function: Previeww B) The Marginal Revenue function: Preview C) The Marginal Profit function: Preview D) The Marginal Profits for q296 thousand pounds: dollars per pound E) How many pounds of canned goods must be made and sold for the company to break even? 1450.613 pounds 03.906 pounds 0172.286 pounds 01187.906 pounds ONone of the above Points possible: 1 This is attempt 1 of 3 Submit

Explanation / Answer

A. C'(q) =2(0.025)q+29.4 = 0.05q + 29.4

B .R '(q) = 59

C . P '(q) = R '(q)-C '(q) = -0.05q +29.6

d.When q=296, P '(q) = -0.05(296)+29.6 = 14.8

E .At break even

C(q)=R(q)

0.025q2+29.4q+254=59q+370

q= 1189.906 pounds

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