Question: Problem 3. Suppose the price-demand and cost functions for the production of a certain digital clock radio are given respectively by p= 10-0.01x and

Problem 3. Suppose the price-demand and cost functions for the production of

Problem 3. Suppose the price-demand and cost functions for the production of a certain digital clock radio are given respectively by p= 10-0.01x and C(x) = 1000 + 3x, 200 x 500 (in dollars), where x is the number of digital clock radios produced. (a) Find the marginal cost function. (b) Find the revenue and marginal revenue functions. Find the profit and marginal profit functions. (c)

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