Costco sells a 72lb wheel of Parmigiano Reggiano cheese for $899. It costs them $700 to produce each wheel. Their cheese warehouse incurs $20,000 in bills every month.
a. Find the marginal cost, marginal revenue, and marginal profit for Costco’s wheel of cheese.
Explain what each means using a full sentence. (Be sure to include units).
b. How many wheels of cheese must Costco sell to make at least $20,000 in profit? (your answer
should be given as a whole number).