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A firm's individual demand for good satisfies, InQx = 78 - 2.1InPx + 0.9InPy - 0.54ln.M + 0.3ln.Ax. Qx is quantity of X, Px is
A firm's individual demand for good satisfies, InQx = 78 - 2.1InPx + 0.9InPy - 0.54ln.M + 0.3ln.Ax. Qx is quantity of X, Px is the price of X, Py is the price of Y, a related good, A is advertising and M is income level. If the marginal cost of producing X is $60.8, what price should they set to maximize profits? P = S
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International Business
Authors: Michael Czinkota, Iikka A. Ronkainen, Michael H. Moffett
8th edition
470530658, 470530650, 978-0470530658
