The profit from the supply of a certain commodity is modeled as P(q) 30+60 In(q) thousand dollars where q is the number

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The Profit From The Supply Of A Certain Commodity Is Modeled As P Q 30 60 In Q Thousand Dollars Where Q Is The Number 1 (50.42 KiB) Viewed 36 times

The profit from the supply of a certain commodity is modeled as P(q) 30+60 In(q) thousand dollars where q is the number of million units produced. (a) Write an expression for average profit (in dollars per unit) when q million units are produce P(q) = = (b) What are the profit and the average profit when 12 million units are produced? (Round you thousand profit $ average profit VAS (c) How rapidly are profit and average profit changing when 12 million units are produced? (Ros profit thousand per million units average profit $ per million units (d) Why should managers consider the rate of change of average profit when making production O Producing more products will lead to an increase in the rate of change of average profit. O The rate of change of average profit indicates the status of the economy. O Maximum average profit geberally occurs at a lower production level than maximum profit. O Average profit is the best indicator of how the market will