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OpenStudy (anonymous):
The demand for a product is given by p=50/√x for 1≤x≤8000 and the cost function is given by C=.5x+500 for 0≤x≤8000 Find the marginal profits for a) x=900 b) x=1600 c) x=2500 D) x=3600 If you were in charge of setting the price for this product what would you set? Explain your reasoning.
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