Question: Suppose a company's revenue function is given by R(q) = -q* + 390q and its cost function is given by C(q) = 250 + 14q,

Suppose a company's revenue function is given by R(q) = -q*

Suppose a company's revenue function is given by R(q) = -q* + 390q and its cost function is given by C(q) = 250 + 14q, where q is hundreds of units sold/produced, while R(q) and C(q) are in total dollars of revenue and cost, respectively. A) Find a simplified expression for the marginal profit function. (Be sure to use the proper variable in your answer.) MP(q) = 780q - 15 X B) How many items (in hundreds) need to be sold to maximize profits? Answer: 1.90 hundred units must be sold. (Round to two decimal places.)

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