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Cost, revenue, and profit are in dollars and x is the number of units. A firm knows that its marginal cost for a product is
Cost, revenue, and profit are in dollars and x is the number of units.
A firm knows that its marginal cost for a product is MC = 3x + 25,
that its marginal revenue is MR = 73 5x,
and that the cost of production of 100 units is $17,700.
(a) Find the optimal level of production.
units
(b) Find the profit function.
P(x) =
(c) Find the profit or loss at the optimal level.
There is a ---Select--- profit loss
of $
.
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