= 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: Applications, Strategies and Tactics (MindTap Course List)

14th Edition

ISBN:9781305506381

Author:James R. McGuigan, R. Charles Moyer, Frederick H.deB. Harris

Publisher:James R. McGuigan, R. Charles Moyer, Frederick H.deB. Harris

Chapter9: Applications Of Cost Theory

Section: Chapter Questions

Problem 3E

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