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In the Settings box, set the Market Price to $ 5 7 . 5 0 , then adjust the slider below the quantity to make

In the "Settings" box, set the Market Price to $57.50, then adjust the slider below the quantity to make the profits on the graph as large as possible.


Suggestion: It may help to have the Show Profit/Loss at the top of the Graph set to "On."


a. What is this profit maximizing quantity?
units


b. What are total profits at this level of output? $

Round your answer to two decimal places.


c. What is the marginal cost of producing this level of output? $

Round your answer to two decimal places.


d. What is the marginal revenue from selling this level of output? $

Round your answer to two decimal places.


e. Are average total costs minimized at this level of output?
 

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a The profit maximizing quantity is 20 units b Total profits at a quantity ... blur-text-image

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