Table 4.2 shows cost, C(q), and revenue, R(q). (a) At approximately what production
Chapter 4, Problem 8(choose chapter or problem)
Table 4.2 shows cost, C(q), and revenue, R(q). (a) At approximately what production level, q, is profit maximized? Explain your reasoning. (b) What is the price of the product? (c) What are the fixed costs? Table 4.2 q 0 500 1000 1500 2000 2500 3000 R(q) 0 1500 3000 4500 6000 7500 9000 C(q) 3000 3800 4200 4500 4800 5500 7400
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