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Given the demand function facing a firm; P=12-0.4Q and its cost (C) be given by the following C=5+4Q+0.6Q Determine the price and quantity if,
Given the demand function facing a firm; P=12-0.4Q and its cost (C) be given by the following C=5+4Q+0.6Q Determine the price and quantity if, (i) the objective of the firm is maximizing profit (6marks) (ii) the objective of the firm is to maximize sales revenue (6marks)
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Managerial economics applications strategy and tactics
Authors: James r. mcguigan, R. Charles Moyer, frederick h. deb harris
12th Edition
9781133008071, 1439079234, 1133008070, 978-1439079232
