Consider a company that has fixed costs of $9,700 and a marginal profit of $23 per item. What is the company's average profit function? P(z) = %3D a. va lal sin (a) How many items must the company produce to have an average profit of $11.59 per item? Number items (round to the whole number)
Consider a company that has fixed costs of $9,700 and a marginal profit of $23 per item. What is the company's average profit function? P(z) = %3D a. va lal sin (a) How many items must the company produce to have an average profit of $11.59 per item? Number items (round to the whole number)
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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Transcribed Image Text:Consider a company that has fixed costs of $9,700 and a marginal profit of $23 per item.
What is the company's average profit function?
P(2) =
va
lal
sin (a)
How many items must the company produce to have an average profit of $11.59 per item?
Number
items (round to the whole number)
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