The marginal cost is greater than the marginal revenue when 70 items are

# The marginal cost is greater than the marginal

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The marginal cost is greater than the marginal revenue when 70 items are produced, so profits are maximized when some quantity less than 70 is produced. The revenue from the 71st item exceeds the cost to produce it, so producing the 71st item will increase the total profit. You Answered The marginal cost is greater than the marginal revenue, so the firm cannot make a profit. The marginal cost is greater than the marginal revenue when 70 items are produced, so total profit is negative when 70 units are produced. Correct Answer The cost of producing the 71st item exceeds the revenue it will generate, so producing the 71st item will reduce the total profit. Since C (70)>R (70) C′(70)>R′(70), the cost to produce the next unit exceeds its revenue, and producing that unit will decrease the total profit. The only data in the problem is about the increased cost and revenue for producing the 71st item. There is no information about whether total profits are maximized or whether total profits must be positive or negative. Quiz Score: 17.5 out of 25

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Previous Next Last Attempt Details: Time: 42 minutes Current Score: 17.5 out of 25 Kept Score: 17.5 out of 25 1 More Attempt available Take the Quiz Again (Will keep the highest of all your Score for this attempt: 23 out of 25 Submitted Sep 30 at 3:16pm This attempt took 35 minutes. Question 1 2 / 2 pts Choose the function f f such that on the interval (a,b) (a,b), f (x)<0 f′ (x)<0 and f ′′ (x)>0 f″(x)>0.
Correct! III. II. IV. I. On the interval (a,b) (a,b) the function should be decreasing ( f (x)<0 f′(x)<0) and concave up ( f ′′ (x)>0 f″(x)>0). Only III. is concave up on the interval (a,b) (a,b). A linear function has f ′′ (x)=0 f″(x)=0. III. is also decreasing on (a,b) (a,b).

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Question 2 2 / 2 pts Which function is continuous at x=0 x=0? x 2 +4sin(x) x2+4sin(x) Correct! x+1cos(x) x+1cos(x) log(x) log(x) x 2 x x2x 2x(2x+3) 2x(2x+3) If the denominator of a ration function is zero at x=0 x=0, then the function is not defined at x=0 x=0, and so is not continuous there. Therefore the functions x 2 +4sin(x) x2+4sin(x), x 2 x x2x, and 2x(2x+3) 2x(2x+3) are all discontinuous at x=0 x=0. The function log(x) log(x) is not defined for x≤0 x≤0, so it cannot be continuous at x=0 x=0.
Since cos(0)=1 cos(0)=1, the function x+1cos(x) x+1cos(x) is continuous at x=0 x=0, but it is discontinuous at x= π2 x=π2, and all other points where cos(x)=0 cos(x)=0. Question 3 2 / 2 pts To produce 500 items, the total cost is \$6,000. The total revenue after selling 500 items is \$10,000. If when the production level is 500, the marginal cost is \$10 per item and the marginal revenue is \$20 per item, estimate the total profit when 501 items are produced and sold. \$4,020 Correct! \$4,010 \$10,020 \$10 \$10,010 The profit when producing and selling 500 500 items is 10,000−6,000=4,000 10,000−6,000=4,000. The marginal profit from producing and selling one additional unit is approximately MR(500)−MC(500)=20−10=10 MR(500)−MC(500)=20−10=10. Therefore the

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total profit for producing and selling 501 501 items is approximately \$4,010 \$4,010.

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