2. Suppose a firm faces demand of Q = 300 2P and has a total cost...

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2. Suppose a firm faces demand of Q = 300 – 2P and has a total cost curve of TC = 75Q + Q 2 .

a. What is the firm’s marginal revenue?

b. What is the firm’s marginal cost?

c. Find the firm’s profit-maximizing quantity where MR = MC.

d. Find the firm’s profit-maximizing price and profit.

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Microeconomics

ISBN: 9780716759751

1st Edition

Authors: Austan Goolsbee, Steven Levitt, Chad Syverson

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Question Posted: Oct 16, 2024 01:00 AM

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2. Suppose a firm faces demand of Q = 300 2P and has a total cost...

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Microeconomics

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