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A firm that produces output good y has the cost function c(y) = 4 y. For quantities less than 2,000, demand for the firm's output
A firm that produces output good y has the cost function c(y) = 4 y. For quantities less than 2,000, demand for the firm's output good is the function p(y) = 20 .01 y. The firm knows the demand function for its output good. (a) Write the firm's revenue, as a function of output quantity y. (b) Write the firm's marginal revenue, as a function of y. (c) Find the quantity of output the firm will choose to maximize profit, the price the firm will charge for its output, and the profit it will earn
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