Question
A firm knows that its marginal cost for a product is MC = 3 x + 20, that its marginal revenue is MR = 68
A firm knows that its marginal cost for a product is
MC = 3x + 20,
that its marginal revenue is
MR = 68 5x,
and that the cost of production of 80 units is $11,380.
(a) Find the optimal level of production.
(b)Find the profit function.
(b) Find the profit function. There is loss/profit of ?
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Applied Regression Analysis
Authors: Norman R Draper, Harry Smith
3rd Edition
1118625625, 9781118625620
