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A bakery is currently producing 200 loaves of bread per day and wants to adjust its output to maximize total profit. At the current production level, the revenue from selling the 200th loaf is $4.00, while the cost to produce it was $3.25. Arrange the following steps in the logical order the bakery should follow to reach its profit-maximizing level of output.
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A bakery is currently producing 200 loaves of bread per day and wants to adjust its output to maximize total profit. At the current production level, the revenue from selling the 200th loaf is $4.00, while the cost to produce it was $3.25. Arrange the following steps in the logical order the bakery should follow to reach its profit-maximizing level of output.