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The manufacturer of high-quality flatbed scanners is trying to decide what price to set for its product. The costs of production and the demand for
- The manufacturer of high-quality flatbed scanners is trying to decide what price to set for its product. The costs of production and the demand for product are assumed to be as follows:
TC = 500,000 + 0.85Q + 0.015 Q2
Q = 14,166 - 16.6P
a. Determine the short-run profit-maximizing price.
b. Plot this information on a graph showing AC, AVC, MC, P, and MR.
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Environmental Markets A Property Rights Approach
Authors: Terry L Anderson, Gary D Libecap
1st Edition
0521279658, 9780521279659
