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Get a similar question Next question question below You can retry this A simple item that is to be sold at a small specialty store

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Get a similar question Next question question below You can retry this A simple item that is to be sold at a small specialty store has $450 in fixed costs and $4 per item in variable costs. The owners assume they can sell 13 items if they charge $94 each, and 10 items at a price of $118 each. (You may and should assume that demand is a linear function for this problem.) For how many units sold/produced is the marginal profit 114 dollars per item? (Use derivatives to find your answer.) Answer: units. (Your answer should be a whole number.) Hint: You need to find the profit function, which is P=R-C. You have enough information given to get the cost function. however, in order to get revenue, you will need to remember that R(q) = q.prq. D(q). Hence, you need the demand equation, which you are told is linear. With the information given in the problem, you can find the revenue function and therefore the profit function. Submit Question TIL

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