First, let's calculate the daily production cost:

Daily production cost = Number of units produced * Cost per unit
                      = 1500 units * $5
                      = $7500

Now we need to find out how many days it takes to produce 1 million units. 

1 million units = 1,000,000 units

Days needed = Total units / Units produced per day
            = 1,000,000 units / 1500 units
            = 666.67 days (approximately)

Since we can't have a fraction of a day, we'll round up to 667 days.

Next, we will calculate the total cost of producing 1 million units by multiplying the daily production cost by the number of days needed:

Total cost = Daily production cost * Days needed
           = $7500 * 667 days
           = $5,002,500

So, it would cost approximately $5,002,500 to produce 1 million units of the product.
If a company produces 1500 units of a product per day and the production cost for each unit is $5, how much would it cost to produce 1 million units?