Consider a company that has fixed costs of $9,700 and a marginal profit of $23 per item. What is the company's average profit function? P(z) = %3D a. va lal sin (a) How many items must the company produce to have an average profit of $11.59 per item? Number items (round to the whole number)

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
Chapter7: Economies Of Scale And Scope
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Consider a company that has fixed costs of $9,700 and a marginal profit of $23 per item.
What is the company's average profit function?
P(2) =
va
lal
sin (a)
How many items must the company produce to have an average profit of $11.59 per item?
Number
items (round to the whole number)
Transcribed Image Text:Consider a company that has fixed costs of $9,700 and a marginal profit of $23 per item. What is the company's average profit function? P(2) = va lal sin (a) How many items must the company produce to have an average profit of $11.59 per item? Number items (round to the whole number)
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