Economics—Marginal Analysis: The NewJoy toy company has just produced a new Street Kings action figure set that it sells to wholesalers for $20 each. From collecting data, they determine that the cost to produce x action figures can be modeled by the function C(x) = 0.001x2 + 4x + 5000.
(a) Derive and algebraically simplify the profit function P(x).
(b) Evaluate P(1000) and interpret.
(c) Evaluate MP(1000) and interpret.
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