Suppose that a demand equation is given by q=1750-25p and the cost of producing q units is given by C(q) = 63,000-70q+0.02q². Find the marginal profit for the following production levels. (a) 700 units (b) 1055 units (c) 1600 units (a) The marginal profit for a production level of 700 units is (Simplify your answer.)

Suppose that a demand equation is given by q=1750-25p and the cost of producing q units is given by C(q) = 63,000-70q+0.02q². Find the marginal profit for the following production levels. (a) 700 units (b) 1055 units (c) 1600 units (a) The marginal profit for a production level of 700 units is (Simplify your answer.)

Microeconomic Theory

12th Edition

ISBN:9781337517942

Author:NICHOLSON

Publisher:NICHOLSON

Chapter11: Profit Maximization

Section: Chapter Questions

Problem 11.4P

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