The demand function for product is p=-2q+200 and the total cost per unit for producing q units is c=4q^2+6q+300 , where p= price, and q= quantity demand.
1. Compute the demand elasticity when price
2. Compute the marginal cost when the quantity is equal 1.
3. Develop the profit function. equal to1 aximizes the total profit.
4. What is the price that maximizes the profit?
5. What is the maximum profit?
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