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To calculate: To find the marginal demand function of for the given demand and cost functions

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 1
p ' x    
The marginal demand is  6  and negative sign shows the decrease in the demand.

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p  x   80  x  1 C  x   75 x  2 x  1
Given information: and

Calculation:

Consider the cost function

C  x   75 x  2 x  1

Demand function

p  x   80  x  1

Now, the marginal demand when x = 10 units will be

 1
p ' x  
2 x 1
1
p '  10   
2 10  1
1

6

 1
p ' x    
Hence the marginal demand is  6  and negative sign shows the decrease in the
demand.

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To calculate: To find the revenue function of for the given demand and cost functions

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The revenue when x = 10 is 770.

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p  x   80  x  1 C  x   75 x  2 x  1
Given information: and

Calculation:

Consider the revenue function

R  x   x. p  x 

Demand function

p  x   80  x  1
Now, the revenue function


R  x   x. 80  x  1 
 80 x  x x  1

When x = 10 unit revenue will be will be

R  10   80  10    10  10  1
 800  30
 770

Hence the revenue when x = 10 is 770.

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To calculate: To find the profit function of for the given demand and cost functions

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The profit when x = 10 is 14.

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p  x   80  x  1 C  x   75 x  2 x  1
Given information: and

Calculation:

Consider the profit function

P  x  R  x  C  x
 80 x  x x  1  75 x  2 x  1
 5x  x x  1  2 x  1
When x =10 unit profit will be

P  10   5  10    10  10  1  2 10  1
 50  30  6
 14

Hence the profit when x = 10 is 14.

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To calculate: To find the marginal profit function of for the given demand and cost functions

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<!--<ANSWER>-->

The marginal profit when x = 10 is 0.

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<!--<EXPLANATION>-->

p  x   80  x  1 C  x   75 x  2 x  1
Given information: and

Calculation:

Consider the profit function

P  x   5x  x x  1  2 x  1

Marginal profit will be

m  x  P ' x
x 1
 5  x 1  
2 x 1 x 1

When x = 10 unit marginal profit will be

 10 1
m  10   5  10  1  
2 10  1 10  1
10 1
 53 
6 3
0

Hence the marginal profit when x = 10 is 0.

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To calculate: To find the maximum profit for the given demand and cost functions

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<!--<ANSWER>-->

The maximum profit when x = 10 is 14.

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<!--<EXPLANATION>-->

p  x   80  x  1 C  x   75 x  2 x  1
Given information: and

Calculation:

Consider the profit function

P  x   5x  x x  1  2 x  1

Maximum profit is the profit when marginal profit is zero.

Marginal profit will be

m  x  P ' x
x 1
 5  x 1  
2 x 1 x 1
Now, this give

P ' x  0
x 1
5  x 1   0
2 x 1 x 1
x  10.17, 4.79
x  10,5

When x =10, 5 unit profit will be

P  5  5  5   5  5  1  2 5 1
 11
P  10   14

Hence the maximum profit when x = 10 is 14.

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To calculate: To find the marginal cost for the given demand and cost functions

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The marginal cost is C'(x) = 75.33.

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<!--<EXPLANATION>-->

p  x   80  x  1 C  x   75 x  2 x  1
Given information: and

Calculation:

Consider the marginal cost function C '(x)

Marginal cost function will be

 1
C '  x   75 
x 1

Now, marginal cost when x =10 will be

1
C '  10   75 
10  1
1
 75 
9
1
 75 
3
 75.33

Hence the marginal cost is C'(x) = 75.33.

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