4. Suppose a firm faces the inverse demand curve P = 600 Q 0.5 . The...
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4. Suppose a firm faces the inverse demand curve P = 600 Q – 0.5 . The firm has the total cost curve TC = 1,000 + 0.5 Q 1.5 . Find the firm’s profitmaximizing output, price, and profit.
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Microeconomics
ISBN: 9780716759751
1st Edition
Authors: Austan Goolsbee, Steven Levitt, Chad Syverson
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