Mathematics · Pricing Decisions
A company sells its product at $20 per unit in order to achieve its objective of maximising profits. Selling price ($P) is related to quantity sold (Q) by the following equation: P = 30 − 0.0002Q Assuming there are no opening or closing inventories, what is the marginal cost of production at the optimum level of output?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1$ 20
- 2$ 15
- 3$ 10✓
- 4$ 0
Correct answer
$ 10
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