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The total cost and total revenue functions for a product areC(q) = 5000000 + 250
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September 15, 2020supposed a life insurance company sells a $250000 one- year term life insurance
September 15, 2020The total cost and total revenue functions for a product areC(q) = 5000000 + 250q + 0.002q^2 and R(q) = 1250q 0.005q^2a) Using the marginal approach determine the profit-maximizing level of output (q*).b) What is the maximum profit?
