Derivatives and Marginal Analysis

Question

Suppose a product's cost function is given by C(q)=−6q2+500q, where C(q) is in dollars and q is the number of units produced.Use the marginal cost function to find the approximate cost of producing the 35th unit.Marginal cost=    dollars per unit

2.Suppose a product's revenue function is given by 

, where  is in dollars and  is the number of units sold.Use the marginal revenue function to find the approximate revenue generated by selling the  unit.Marginal revenuedollars per unit

Answer 1

C' =-12q+500

C'(35) =-12(35)+500 = -420+500 = $80

R'(q) =-12q+800

R'(26) =-12(26)+800 = -312+ 800 = $488