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SportsMart is a sports apparel department store in Hayward.The manger has estimated the weekly demand function to be P = 25 - 0.001Q where P
- SportsMart is a sports apparel department store in Hayward.The manger has estimated the weekly demand function to be P = 25 - 0.001Q where P is the price and Q is the output per week.The firm's total costs are given by TC = 4000 + 13Q + 0.002Q2and its marginal cost function is given by MC = 13 + 0.004Q.What is the firm's profit-maximizing price? ( answerwithoutthe dollar sign.)
- SportsMart is a sports apparel department store in Hayward.The manger has estimated the weekly demand function to be P = 25 - 0.001Q where P is the price and Q is the output per week.The firm's total costs are given by TC = 4000 + 13Q + 0.002Q2and its marginal cost function is given by MC = 13 + 0.004Q.How much profit can the store make at the profit-maximizing choice of price and output?( answerwithoutthe dollar sign.)
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Introduction to Probability
Authors: Mark Daniel Ward, Ellen Gundlach
1st edition
716771098, 978-1319060893, 1319060897, 978-0716771098
