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The demand for a product is P(Q)=160-2Q. Total fixed costs and total variable costs specific to producing this product are TFC = $500 and TVC(Q)
- The demand for a product is P(Q)=160-2Q. Total fixed costs and total variable costs specific to producing this product are TFC = $500 and TVC(Q) = 40Q+(1/2)Q2.
- (12) Find the profit maximizing output, price, and profit for this product using any method you wish.
- (3) Discuss the effect on the profit maximizing output, price, and profit if FC increases.
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The Economics Of The Environment
Authors: Peter Berck, Gloria Helfand
1st Edition
978-0321321664, 0321321669
