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.

Microeconomic Theory

12th Edition

ISBN:9781337517942

Author:NICHOLSON

Publisher:NICHOLSON

Chapter18: Asymmetric Information

Section: Chapter Questions

Problem 18.3P

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