Solve the problem.
-The demand equation for a certain item is and the cost equation is C(x) = 7,000 + 4x. Find the marginal profit at a production level of 3,000 and interpret the result.
A) $7; at the 3,000 level of production, profit will increase by approximately $7 for each unit increase in production.
B) $16; at the 3,000 level of production, profit will increase by approximately $16 for each unit increase in production.
C) $14; at the 3,000 level of production, profit will increase by approximately $14 for each unit increase in production.
D) $4; at the 3,000 level of production, profit will increase by approximately $4 for each unit increase in production.

Question

Solve the problem.
-The demand equation for a certain item is  and the cost equation is C(x) = 7,000 + 4x. Find the marginal profit at a production level of 3,000 and interpret the result.
A) $7; at the 3,000 level of production, profit will increase by approximately $7 for each unit increase in production. 
B) $16; at the 3,000 level of production, profit will increase by approximately $16 for each unit increase in production. 
C) $14; at the 3,000 level of production, profit will increase by approximately $14 for each unit increase in production. 
D) $4; at the 3,000 level of production, profit will increase by approximately $4 for each unit increase in production.

Quizplus · Accepted Answer

The Answer of Solve the problem.
-The demand equation for a certain item is  and the cost equation is C(x) = 7,000 + 4x. Find the marginal profit at a production level of 3,000 and interpret the result.
A) $7; at the 3,000 level of production, profit will increase by approximately $7 for each unit increase in production. 
B) $16; at the 3,000 level of production, profit will increase by approximately $16 for each unit increase in production. 
C) $14; at the 3,000 level of production, profit will increase by approximately $14 for each unit increase in production. 
D) $4; at the 3,000 level of production, profit will increase by approximately $4 for each unit increase in production.

Solve the Problem. -The Demand Equation for a Certain Item Is and Is