Given the cost function: TC = 5x + 2x2
and the total revenue function :TR = 25x − 0.5x2 Derive the formula defining the dependence of the marginal profit M∏ from the size of
production X.
a. calculate the optimal production volume of the enterprise.
b. write the marginal profit function.
c. calculate the optimal price level.
d. calculate the total profit.