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In the following q is in Items and MC and MR are in dollars per Item. A firm that sells Items knows that marginal cost
In the followingqis in Items andMCandMRare in dollars per Item.
A firm that sells Items knows that marginal cost isMC(q) =3q+30,
marginal revenue isMR(q) =785q, and the total cost to produce100Items is$18,200.
(a) Find the production level that maximizes profit.
(b) Find the profit function.
P(q) =
(c) Find the maximum possible profit.
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