Question
Assume a competitive firm faces a market price of $200, a cost curve of: and a marginal cost of: What is the firm's profit maximizing
Assume a competitive firm faces a market price of $200, a cost curve of: 
and a marginal cost of: 
What is the firm's profit maximizing output level? 14 units. (round your answer to two decimal places)
What is the firm's profit maximizing price? $ 200. (round to the nearest penny)
What is the firm's profit? $7. (round to the nearest penny)
1 C = = 39 +4q + 750, =q +4. MC =
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For a competitive firm profit maximizing condition is P MC Here P 200 and MC q 2 4 So q ...
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Economics Today
Authors: Roger LeRoy Miller
16th edition
132554615, 978-0132554619
