Question
Suppose a firm faces the inverse demand curveP = 1000Q^-.5. The firm has the total cost curve C(Q) = Q^2 . a. Assuming that the
Suppose a firm faces the inverse demand curveP = 1000Q^-.5. The firm has the total cost curveC(Q) = Q^2.
a. Assuming that the firm operates in the market, find the firm's profit maximizing output, price, and profit.
b. Given your answer to part a, would this firm stay in the market or exit?
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Principles Of Microeconomics
Authors: N Gregory Mankiw
9th Edition
035713348X, 9780357133484
