Suppose That the Total Profit in Hundreds of Dollars from Selling

question 55

Multiple Choice

Suppose that the total profit in hundreds of dollars from selling x items is given by P(x) =4x2 - 5x + 10.Find the marginal profit at x = 5.

• A)$45
• B)$15
• C)$35
• D)$32

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Definitions:

Productive

The ability to produce a significant amount of output or work in a specific period of time, often using resources efficiently.

MRP Curve

The Marginal Revenue Product curve, which shows the added revenue generated by increasing the employment of an additional unit of a resource, holding other factors constant.

Labor Demand Curve

Represents the relationship between the quantity of labor that employers are willing to hire and the wage rate, typically sloping downward from left to right.

Profit-Maximizing Firm

A business that adjusts its production and sale strategies to achieve the highest possible profit.