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Marginal cost of production

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Jim operates a bagel shop in a market where he takes the price of $1 per bagel as given. His total cost of production is given by TC(q) = 5 + 0.01q2 and his marginal cost of production is given by MC(q) = 0.02q. At his profit maximizing output level of q* = ______, Jim earns ______ profit.

Reference no: EM131512875

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