The total cost C(q) of producing q goods is given by: C(q) = 0.01q3 0.6q2 +13q. (a) What
Chapter 4, Problem 49(choose chapter or problem)
The total cost C(q) of producing q goods is given by: C(q) = 0.01q3 0.6q2 +13q. (a) What is the fixed cost? (b) What is the maximum profit if each item is sold for $7? (Assume you sell everything you produce.) (c) Suppose exactly 34 goods are produced. They all sell when the price is $7 each, but for each $1 increase in price, 2 fewer goods are sold. Should the price be raised, and if so by how much?
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