2. Use a graph to illustrate the typical shape of the two curves used to find a...
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2. Use a graph to illustrate the typical shape of the two curves used to find a firm’s profit-maximizing level of output on the basis of the optimal output rule. Assume all units of output can be sold for $5. Indicate the profit-maximizing level of output with a “Q*” on the appropriate axis. (You don’t have enough information to provide a specific numerical answer.)
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