Based on the quantity sold and the price, the profit per unit is $5 and the total profit is $2,500
The profit made from each unit sold can be found as:
= Market price - Average cost
= 14 - 9
= $5
The total profit would therefore be:
= Profit per unit x Number of units sold
= 5 x 500
= $2,500
In conclusion, the profit per unit is $5 and the total profit is $2,500
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