The Joy of Industrial Production Profits!

How can we calculate the profit earned by producing 2.1 million units in an industrial production process?

Given that C(2.1) = 5.1, R(2.1) = 6.7, MC(2.1) = 0.8, and MR(2.1) = 0.9, what is the profit earned?

Calculation of Industrial Production Profit:

The profit earned from an industrial production process, given the cost and revenue functions for producing 2.1 million units, is 1.6 million dollars.

To calculate the profit in an industrial production process, we need to subtract the cost of production from the revenue generated by selling the units. In this case, the cost C(2.1) is 5.1 million dollars, and the revenue R(2.1) is 6.7 million dollars.

Therefore, the profit can be calculated as follows:

Profit = Revenue - Cost

Substituting the values, we get:

Profit = 6.7 (revenue) - 5.1 (cost) = 1.6 million dollars

So, the profit earned by producing 2.1 million units in the industrial production process is 1.6 million dollars. What a joyful result!