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Refer to the following table which gives the demand and cost data for a price-setting firm: Price Output Total Cost $20 7 $36 19 8
Refer to the following table which gives the demand and cost data for a price-setting firm:
| Price | Output | Total Cost |
| $20 | 7 | $36 |
| 19 | 8 | 45 |
| 18 | 9 | 54 |
| 17 | 10 | 63 |
| 16 | 11 | 72 |
| 15 | 12 | 81 |
What is the profit-maximizing price?
Multiple Choice
- $19
- $18
- $17
- $16
- $15
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Understanding Cross Cultural Management
Authors: Marie Joelle Browaeys, Roger Price
3rd Edition
1292015896, 978-1292015897
