6. A-One bakery in Brampton sells 350 fruit cakes slices each month for $3.25 each. They are looking for help to come up with a strategy to increase revenue. A student from our school who works their part time conducts a survey. The results of the survey indicate that sales of the fruit cake slices would increase by 80 per month for each $0.10 decrease in price. c. Determine the marginal revenue from the sales of 200 slices of fruit cake. d. The cost of producing x fruit cake slices is C(x) = -0.0005x² +1.5x + 300. Determine the marginal cost of producing 200 fruit cake slices.
6. A-One bakery in Brampton sells 350 fruit cakes slices each month for $3.25 each. They are looking for help to come up with a strategy to increase revenue. A student from our school who works their part time conducts a survey. The results of the survey indicate that sales of the fruit cake slices would increase by 80 per month for each $0.10 decrease in price. c. Determine the marginal revenue from the sales of 200 slices of fruit cake. d. The cost of producing x fruit cake slices is C(x) = -0.0005x² +1.5x + 300. Determine the marginal cost of producing 200 fruit cake slices.
Essentials of Economics (MindTap Course List)
8th Edition
ISBN:9781337091992
Author:N. Gregory Mankiw
Publisher:N. Gregory Mankiw
Chapter14: Monopoly
Section: Chapter Questions
Problem 6PA
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Transcribed Image Text:6. A-One bakery in Brampton sells 350 fruit cakes slices each month for $3.25 each. They are
looking for help to come up with a strategy to increase revenue. A student from our school
who works their part time conducts a survey. The results of the survey indicate that sales of
the fruit cake slices would increase by 80 per month for each $0.10 decrease in price.
c. Determine the marginal revenue from the sales of 200 slices of fruit cake.
d. The cost of producing x fruit cake slices is C(x) = -0.0005x² + 1.5x + 300.
Determine the marginal cost of producing 200 fruit cake slices.
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