A manufacturer of machinery parts determines that q units of a particular piece will be sold when

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A manufacturer of machinery parts determines that q units of a particular piece will be sold when the price is p = 110 − q dollars per unit. The total cost of producing those q units is C(q) dollars, where

a. How much profit is derived from the sale of the q units at p dollars per unit?

b. For what value of q is profit maximized?

c. Find the consumers’ surplus for the level of production q0 that corresponds to maximum profit.

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Calculus For Business, Economics And The Social And Life Sciences

ISBN: 9780073532387

11th Brief Edition

Authors: Laurence Hoffmann, Gerald Bradley, David Sobecki, Michael Price

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