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I need to find the best response for a firm. The demand function is Q=1000-5Px+2Py+2Pz The cost function is TC=100,000+52Q You would set MC=MR. I
I need to find the best response for a firm. The demand function is
Q=1000-5Px+2Py+2Pz
The cost function is
TC=100,000+52Q
You would set MC=MR. I believe you would set the inverse demand function to equal 52? What would the best response be?
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