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An agricultural cooperative sells a product in a competitive market and thus takes the price as given by the market. Its marginal cost curve is
An agricultural cooperative sells a product in a competitive market and thus takes the price as given by the market. Its marginal cost curve is given by
MC(Q)=2+4Q
Assuming that there are no fixed costs, what is the change in profit for the cooperative due to a price increase from $10 to $18?
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