The marginal revenue MR =800-6q and the average cost function AC=5+300/q.Find the profit when 10 units are produced and sold

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A: We know that the formula for average revenue is:- AR = Total revenue / output

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A: i). Firm’s total cost function:

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A: The table you've provided is a cost table, commonly used in economics to analyze the costs…

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A: Cost refers to the amount of resources, such as money, time, effort, or resources, that must be…

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A: Total Cost(TC) is the total amount incurred by the firm in production of given quantity. Average…

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A:

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