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Assume that the demand curve for your firm is given by AR-200 - 8x where AR is the average revenue (MWK) per unit and
Assume that the demand curve for your firm is given by AR-200 - 8x where AR is the average revenue (MWK) per unit and x is the output. The marginal cost is given by MC-x -8x +211 where MC is marginal cost (MWK). The firm's cost when not producing output is MWK10. Find the firm's profit turning points and state whether these point(s) are maxima or minima
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Microeconomics An Intuitive Approach with Calculus
Authors: Thomas Nechyba
1st edition
538453257, 978-0538453257
