Suppose that the cost function of a commodity is C = 3x and the demand function is
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Suppose that the cost function of a commodity is C = 3x and the demand function is p = 10 −3x. The government imposes a sales tax of 25% (to be paid by the purchaser, or course). Find the maximum profit for the producer and the price at which the articles will be sold.
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Now the consumer must pay 125 of what he previously ...View the full answer
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