What will be the quantity supplied assuming maximizing prof

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Reference no: EM13242224

4. The following is a cost function for clinic visits in a small inner city clinic:

Quantity of Visits Total Cost per Week

0 $10

1 15

2 25

3 45

4 75

5 115

6 165

a. Determine the marginal cost for each level of output

b. If the price per visit is given to be $25, at what level of visits will the maximum profit position be? What are the profits at this level? What is the quantity supplied?

c. If the price per visit increases to $45, what will be the quantity supplied (assuming maximizing profits)?

Reference no: EM13242224

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