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Calculus Business Application Worksheet 1. A manufacturer makes fuel tanks for cars. The total weekly costs for the company to produce x tanks is C x 10000 90 x .05x a. b. c. d. e. 2 Find the marginal cost function. Use the marginal cost function to estimate the cost of the 501st tank. What is the cost to produce 400 tanks? Find the average cost to produce 700 tanks. Find the exact cost of the 501st tank. 2. A company comes up with the following formula to describe the demand for a product at a particular price level. x 10000 1000 p , where x is the number of units and p is the price per unit. The cost function for the product is C x 7000 2x . a. b. c. d. e. f. g. h. Find the domain for the demand function. Find the marginal cost function. Find the revenue function. Find the marginal revenue function. Use the marginal revenue function at x=5000. What does it mean? Find the profit function. Maximize the profit function. Find the average profit you make for producing 2000 units. 3. The owner of a perfume company finds the demand function for a certain kind of perfume is x 500 2 . She also has a cost function of C x .2 x 3x 200 . p3 a. b. c. d. Find a function for the profit as a function of x bottles of skunk oil sold. At what rate is the profit changing when you sell 12 bottles? At what rate is the profit per bottle changing when you sell 12 bottles? How many bottles should be sold to maximize profit? 4. A company plans to sell some new speakers. The demand function for them is x 20000 25 p . a. Find the revenue function. b. Find the marginal revenue. What does R 30 mean? c. How much revenue comes in when you sell 300 speakers?