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The scenario is as follows: A used tired shop store named Tire Town offers tire replacements. The shop has tasked us with the important role
The scenario is as follows:
A used tired shop store named Tire Town offers tire replacements. The shop has tasked us with the important
role of helping the store's financials by determining the monthly cost, revenue, and profit of the store and
then performing various analyses of this information.
Tire Town has a monthly demand given by and the store's last few months of
financial history, provided in the table detailing the summary of this information. The table can be found
below.
What function estimates the marginal monthly revenue of Tire Town?
What function estimates the marginal monthly cost of Tire Town?
What function estimates the marginal monthly profit of Tire Town?
Consider the number of tires the shop needs to replace to maximize profit. How would replacing one more tire affect the shops monthly profits? How would replacing one tire less affect the shops monthly profits?
Type up a paragraph or morediscussing the results of your analysis, including any conclusions you can make. Make sure to include the aforementioned functions in your memo.
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