If he wants the average cost of production to be $1, how many lures would hee)have to produce in one month?e)_If he wants to make a profit of at least $4000 per month, what is thef)minimum number of lures he would have to produce if he sells every lure heproduces for $4?f)_ Optimal Bait ProjectMy brother Matt owns the Optimal Bait Company. Optimal Bait Companymanufactures fishing lures. The Monthly cost to run the factory is $4200 and thecoast of producing each lure is an additional $0.25 per lure.

Answered: Image /qna-images/answer/f0768bfb-d4a3-426c-a421-943f07e5770d.jpg

If he wants the average cost of production to be $1, how many lures would he e) have to produce in one month? e). If he wants to make a profit of at least $4000 per month, what is the f) minimum number of lures he would have to produce if he sells every lure he produces for $4?

If he wants the average cost of production to be $1, how many lures would he e) have to produce in one month? e). If he wants to make a profit of at least $4000 per month, what is the f) minimum number of lures he would have to produce if he sells every lure he produces for $4?

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

100%

If he wants the average cost of production to be $1, how many lures would he
e)
have to produce in one month?
e)_
If he wants to make a profit of at least $4000 per month, what is the
f)
minimum number of lures he would have to produce if he sells every lure he
produces for $4?
f)_

Optimal Bait Project
My brother Matt owns the Optimal Bait Company. Optimal Bait Company
manufactures fishing lures. The Monthly cost to run the factory is $4200 and the
coast of producing each lure is an additional $0.25 per lure.

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