c If each teddy bear costs the owner 7 and the owner has no other costs for

C if each teddy bear costs the owner 7 and the owner

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When the price of a teddy bear is $15, what is the marginal revenue? (c)If each teddy bear costs the owner $7, and the owner has no other costs for selling the teddy bears, write down a model for ( )xP, the profit (in dollars) as a function of price. (d)Find the price to maximize the owner’s profit and what is the maximum profit? You must use calculus to show that your answer gives the maximum profit. 7