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

question 52

Multiple Choice

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)$14; at the 3,000 level of production,profit will increase by approximately $14 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)$7; at the 3,000 level of production,profit will increase by approximately $7 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.

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Definitions:

Psychodynamic

Pertains to a psychological perspective that emphasizes the influence of the unconscious mind on behavior, drawing heavily on psychoanalytic theories.

Humanistic-existential

A psychological approach focusing on individual experience, personal freedom, and choice, emphasizing the search for meaning and self-actualization.

Cognitive

Relating to mental processes such as awareness, perception, reasoning, and judgement.

Behavioral

Pertaining to behaviors, a term often used to describe actions or reactions of individuals in response to external or internal stimuli.