Statistics Solutions

[Solution Library] Suppose P=0.001 q^3+0.142 q^2, where profit P is measured in dollars and q is the number of units made and sold. Show that the marginal

Question: Suppose \(P=0.001 q^{3}+0.142 q^{2}\), where profit \(P\) is measured in dollars and \(q\) is the number of units made and sold.

  1. Show that the marginal profit at \(q=100\) is 58.40 dollars per unit.
  2. Use the fact mentioned in (a) to answer the following:

If \(q\) goes from 100 to 98, will profit go up or down? By (approximately) how much?

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