3.1 In Figure 8.3, why is the revenue curve a straight line in panel a? What is...
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3.1 In Figure 8.3, why is the revenue curve a straight line in panel a? What is the slope of the revenue curve? What is the slope of the profit curve at the q where profit is maximized? What can you say about the slopes of the cost and revenue curves at the q where profit is maximized? Why is profit equal to the gold box in panel b?
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