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A firm that produces Items has monthly average costs, in dollars per Item, given by the following function where q is the number of Items
A firm that produces Items has monthly average costs, in dollars per Item, given by the following function where q is the number of Items produced per month. AC(q) = 38,000/q +200 +q.The firm can sell Items in a competitive market for $1700 per Item. If production is limited to 400 Items per month, find the number of Items that gives maximum profit, and find the maximum profit
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Principles of Economics
Authors: Fred M. Gottheil
7th edition
978-1133962069, 9781285064444, 1133962068, 1285064445, 978-1285064437
