= A group of management students are creating a business plan for their proposed shoe brand SoleSearching. The total production cost of x pairs of shoes is expected to be given by C(x) = x² +500x + 8000 pesos. The group intends to sell at p(x) = 1000-x pesos per pair. 1. What will be the marginal profit when 100 pairs are sold? 2. At what production level will the average cost per pair be at a minimum? (Perform SDT)
= A group of management students are creating a business plan for their proposed shoe brand SoleSearching. The total production cost of x pairs of shoes is expected to be given by C(x) = x² +500x + 8000 pesos. The group intends to sell at p(x) = 1000-x pesos per pair. 1. What will be the marginal profit when 100 pairs are sold? 2. At what production level will the average cost per pair be at a minimum? (Perform SDT)
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
Chapter3: Benefits, Costs, And Decisions
Section: Chapter Questions
Problem 1MC
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