Suppose a company manufactures mp3 players and sells them to retailers for $98 each. it has fixed costs of $262500 related to the production of the mp3 players, and the cost per unit for production is $23.
1. what is the total revenue function?
2. what is the marginal revenue for this product?
3. what is the total cost function?
4. what is the marginal cost for this product? is the marginal cost equal to the cariable cost or the fixed cost?
5. what is the profit function fot this product? what is the marginal profit?
6. whast are the cost, revenue, and profit if 0 units are produced?