22 The total cost and total revenue functions for a product are C(q) = 5,000,000 + 250g + 0.002q² %3D R(q) = 1,250q -0.005q? %3D (a) Using the marginal approach, determine the profit-maximizing level of output. (b) What is the maximum profit? d totel revenue functions for a product are

22 The total cost and total revenue functions for a product are C(q) = 5,000,000 + 250g + 0.002q² %3D R(q) = 1,250q -0.005q? %3D (a) Using the marginal approach, determine the profit-maximizing level of output. (b) What is the maximum profit? d totel revenue functions for a product are

Managerial Economics: A Problem Solving Approach

5th Edition

ISBN:9781337106665

Author:Luke M. Froeb, Brian T. McCann, Michael R. Ward, Mike Shor

Publisher:Luke M. Froeb, Brian T. McCann, Michael R. Ward, Mike Shor

Chapter5: Investment Decisions: Look Ahead And Reason Back

Section: Chapter Questions

Problem 4MC

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The encircled question, part (b) needs to be solved. Kind Regards

Thank you!

22 The total cost and total revenue functions for a product are
C(q) = 5,000,000 + 250g + 0.002q²
%3D
R(q) = 1,250q -0.005q?
%3D
(a) Using the marginal approach, determine the profit-maximizing level of output.
(b) What is the maximum profit?
d totel revenue functions for a product are

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