On a given day, the demand for a famous value burger isd (p) = 7p+4p²-2eº if 0 ≤p ≤ 3,where e is the exponential number. What is the total margin/profit-maximizing pricea) when the cost of making a burger is 70 cents? [Select]b) when the cost of making a burger is $1.70? [Select]

To find the profit-maximizing price, we need to determine the price that maximizes the profit…

Answered: a) when the cost of making a burger is…

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Economics

a) when the cost of making a burger is 70 cents? [Select] b) when the cost of making a burger is $1.70? [Select]

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Question

On a given day, the demand for a famous value burger is
d (p) = 7p+4p²-2eº if 0 ≤p ≤ 3,
where e is the exponential number. What is the total margin/profit-maximizing price
a) when the cost of making a burger is 70 cents? [Select]
b) when the cost of making a burger is $1.70? [Select]

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Step 3: b. When the cost of making a burger is $1.70

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