A firm can produce at most x = 2500 units per month, and their marginal cost function
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Question:
- A firm can produce at most x = 2500 units per month, and their marginal cost function has been computed to be MC=1200+x , while the cost of producing and selling 30 units is $70,000. If their marginal revenue function has been computed to be MR=3500 , then find:
- The number of units of production resulting in maximum monthly profit
- The maximum monthly profit
- Associated fixed costs
- How many units does the firm need to manufacture and sell in order to break even?
Related Book For
Mathematical Applications for the Management Life and Social Sciences
ISBN: 978-1305108042
11th edition
Authors: Ronald J. Harshbarger, James J. Reynolds
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