Problem

Profit The revenue generated by the sale of 5000 units of a commodity is $400 thousa...

Profit The revenue generated by the sale of 5000 units of a commodity is $400 thousand dollars, and the average cost of producing 5000 units is $20 per unit.

a. What is the profit on 5000 units of the commodity?

b. Assuming R(q) represents revenue and represents the average cost for the production and sale of q units of a commodity, write an expression for profit.

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