04a.marginals

# 04a.marginals - MAC 2233/001-006 Business Calculus Fall...

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Unformatted text preview: MAC 2233/001-006 Business Calculus, Fall 2011 CRN: 81700–81702, 81705, 81716, 81715 Name: Two points . Professor : Stephen Suen Section: Peer Leaders : Hana Aboul-Hosn, Toni Jung, Renan Mendonca 4. Marginals . The marginals are useful tools in investigating the rates of change of profit ( P ), revenue ( R ) and cost ( C ) with respect to the number x of unit of goods sold. Using speed as an example, a train moving at a speed of 80 miles per hour would have travelled 80 miles (which is the change in distance covered in the journey) in one hour. Similarly, marginal profit dP dx , marginal revenue dR dx and marginal cost dC dx , respectively, give the approximate change in profit P , revenue R and cost C for each additional unit of goods sold . Example . Mrs. Rose has a business selling pˆat´ e in Tampa for over a year. She wants to study the effect of pricing in her pˆat´ e servings on her business. Use x to denote the number of servings she sells each month and use p for the price she charges per serving. She is currently selling x = 120 servings at \$7 each. She estimates that (based on her current customers) she can sellat \$7 each....
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04a.marginals - MAC 2233/001-006 Business Calculus Fall...

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