Question: QUESTION 3 ( 1 5 MARKS ) The weekly demand function for x units of a product sold by only one firm is p =

QUESTION 3(15 MARKS)
The weekly demand function for x units of a product sold by only one firm is p=400-x dollars, and the average cost of production and sale is AC=300+4x.
i. Find the profit function.
ii. Find the marginal revenue, marginal average cost and marginal profit at x=10. Interpret the marginals
iii. Find the price at break-even point?
QUESTION 3 ( 1 5 MARKS ) The weekly demand

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