Explanation Given information: The graph of marginal cost and marginal revenue is given by Fact used: Profit is maximized when the marginal cost equals the marginal revenue. Calculation: From the given graph, we can see that, there are two points at which M C = M R . At q = 1000 , M C = M R

6th Edition

ISBN: 9781119399322

Author: Hughes-Hallett

Publisher: WILEY

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Question

Chapter 4.4, Problem 10P

To determine

To estimate:

The production level that maximizes the profit.

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Chapter 4.4, Problem 9P

Chapter 4.4, Problem 11P

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Chapter 4 Solutions

APPLIED CALCULUS (WILEY PLUS)

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To estimate: The production level that maximizes the profit.

Solution Summary: The author explains that the production level that maximizes the profit is q=3000.