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Beta Borax Inc. plans to introduce a new shower cleaner. The cost, in dollars, to produce x tons of cleaner is C(x) = 25x
Beta Borax Inc. plans to introduce a new shower cleaner. The cost, in dollars, to produce x tons of cleaner is C(x) = 25x - 3000. The price-demand equation is p = 100 -0.5x. a) Write an expression for revenue as a function of demand, R(x). b) Compute the marginal cost and marginal revenue functions. c) What is the maximum profit? d) What is the level of production that will maximize the profit?
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a To find the revenue as a function of demand well multiply the demand x by the price p Given the pr...
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Microeconomics
Authors: Austan Goolsbee, Steven Levitt, Chad Syverson
1st Edition
978-1464146978, 1464146977
