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4. A firm faces the following average revenue (demand) curve: P = 120 0.02Q where Q is weekly production and P is price, measured in
4. A firm faces the following average revenue (demand) curve: P = 120 0.02Q where Q is weekly production and P is price, measured in cents per unit. The fin-11's cost funciion is given by C = Q + 25,000. Assume that the rm maximizes prots. 3. What is the level of production, price, and total profit per week? b. If the government decides to levy a tax of 14 cents per unit on this product, what will be the new level of production, price, and prot
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