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Determine profit maximizing number of bags and price per bag

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Reference no: EM13877046

Assume monthly demand for 5-pound bags of potatoes is given by

P = 20 - 2 ln Q

Assume each bag cost a farmer $2 (including the fixed cost) to produce. Deter- mine the profit maximizing number of bags and price per bag.

Reference no: EM13877046

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