The profit, in thousands of dollars, from the sale of x thousand candles can be estimated by P(x) = 5 x - 0.7 x ln x. 1) Find the marginal profit, P'(x).
2) Find P'(10), and explain what this number represents. What does P'(10) represent?
A. The additional profit, in thousands of dollars, for selling a thousand candles once 10,000 candles have already been sold.
B. The additional profit, in thousands of dollars, when 10,000 candles are sold.
C. The additional cost, in thousands of dollars, to produce a thousand candles once 10,000 candles have already been sold.
D The additional cost, in thousands of dollars, to produce 10,000 candles.
C. How many thousands of candles should be sold to maximize profit?