Question: If C ( x ) = 1 3 , 0 0 0 + 5 0 0 x 1 . 2 x 2 + 0 .
If
Cxx xx
is the cost function and
pxx
is the demand function, find the production level in units that will maximize profit. Hint: If the profit is maximized, then the marginal revenue equals the marginal cost.
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