Suppose a company\'s revenue function is given by R(q) =-13 + 200q2 and its cost

Question

Suppose a company's revenue function is given by R(q) =-13 + 200q2 and its cost function is given by C(g) 260 + 11q, where q is hundreds of units sold/produced, while R(q) and C(q) are in total dollars of revenue and cost, respectively. Questions Q 1 (0/1) C Q 2 (0.5/1) A) Find a simplified expression for the marginal profit function. (Be sure to use the proper variable in your answer.) MP(q) = B) How many items (in hundreds) need to be sold to maximize profits? (Round your answer to two decimal places.) Answer: C Q 4 (0.6/1) Q 5 (0/1) Preview Q 9 (0/1) Q 10 (0/1) hundred units must be sold. Q 12 (0,1) Q 13 (0,1) Points possible: 1 Unlimited attempts Message instructor about this question License Grade: 2.1/13 Print Version Submit

Explanation / Answer

Profit, P(q)=R(q)-C(q) = -q3+200q2-260-11q

A . Marginal profit, MP(q) , P'(q) = -3q2+400q -11

B . P'(q)=0

-3q2+400q-11=0

q=133.31

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