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(d) Profit = TR - TC TR = PX Q = 20 TC = TFC + TVC TFC = $10 TVC = Area under
(d) Profit = TR - TC TR = PX Q = 20 TC = TFC + TVC TFC = $10 TVC = Area under the MC = X 0.3) = 7.5 TC = 10 + 17.5 Profit = 20 - 17.5 = 2.5 (e) Consumer surplus = 1/2 X (0.5 - 0.4) X 50 = 2.5 0.5 04 _ 03 50 R 125 MC D 250 Quantity
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The End Of Poverty Economic Possibilities For Our Time
Authors: Jeffrey D Sachs, Bono
1st Edition
0143036580, 9780143036586
