Question
Suppose a firm faces the following demand for its output q: q = 100 - 10p, where p represents the price it receives per unit
Suppose a firm faces the following demand for its output q: q = 100 - 10p, where p represents the price it receives per unit sold. Assume this firm marginal cost is MC = 4. The level of output at which this firm maximizes its profit is?? The price charged at this firm's profit maximizing level of output is??
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Economics
Authors: Roger A. Arnold
12th edition
978-1305758674, 1305758676, 978-1285738321
