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A company has determined its demand for selling x units can be modeled as p = 700 -5x and the cost of producing x number
Posted: Sat Jul 09, 2022 2:19 pm
by answerhappygod
- A Company Has Determined Its Demand For Selling X Units Can Be Modeled As P 700 5x And The Cost Of Producing X Number 1 (43.04 KiB) Viewed 56 times
A
company has determined its demand for selling x units can be modeled as p = 700 -5x and the cost of producing x number of units can be modeled as C(x) = 50x + 90. a. Find the marginal revenue equation. b. Find the marginal cost equation. c. Knowing that the firm will profit maximize at the quantity where marginal revenue equals marginal cost, how much should the firm produce and sell in order to maximize profit? d. What is the maximum profit earned?