A manufacturing company wants to determine the optimal production quantity for a specific product to minimize production costs. The company incurs a fixed cost of $100,000 per year for production equipment and $50 per unit variable cost for each unit produced. The product is sold at a price of $100 per unit. The company forecasts a demand of 2,000 units for the upcoming year. Calculate the optimal production quantity that will minimize production costs and the corresponding minimum production cost for the company.

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