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Fixed costs are 3 million variable costs are 04 million per


Question: (a) Fixed costs are $3 million; variable costs are $0.4 million per item. Write a formula for total cost as a function of quantity, q.

(b) The item in part (a) is sold for $0.5 million each. Write a formula for revenue as a function of q.

(c) Write a formula for the profit function for this item.

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Mathematics: Fixed costs are 3 million variable costs are 04 million per
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