(a) Show that if the profit P(x) is a maximum, then the marginal revenue equals the marginal...
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(a) Show that if the profit P(x) is a maximum, then the marginal revenue equals the marginal cost.
(b) If C(x) = 16,000 + 500x - 1.6x2 + 0.004x3 is the cost function and p(x) = 1700 - 7x is the demand function, find the production level that will maximize profit.
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a The total profit is In order to maximize profit we look for the cr...View the full answer
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