The financial planning team at a certain company determines that the profit function for producing and selling its bobbleheads can be modeled by
P(x) = −0.001x2 + 7x − 5000 0 ≤ x ≤ 7000
where
x represent the number of bobbleheads produced and sold and
P(x)
represents the monthly profit in dollars.
(a) Determine
MP, the marginal profit function.
Evaluate
MP(
2000).
MP(2000) =
Interpret
MP(
2000).
The estimated monthly profit of producing and selling the
bobblehead is $
.
(b) If the company is producing and selling
2000 bobbleheads per month, is profit increasing or decreasing?