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Question 1 25 pts The demand curve and marginal revenue curve for a rm's products are given as: P = 156 0.2Q and MR =
Question 1 25 pts The demand curve and marginal revenue curve for a rm's products are given as: P = 156 0.2Q and MR = 156 0.4Q. The rm's marginal cost and average total cost of production are constant at SO/unit. The graph ofthe demand curve, marginal revenue, marginal cost, and average total cost of production are shown below. P 156 _ 103 A. What is the rm's prot-maximizing output level? In no more than three sentences, explain why prot is maximum at this output level. B. At what (single) price should the rm sell its products to maximize prot
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