Under what conditions does an increase in the per-unit price increase total profit? Under what conditions does
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Question:
Under what conditions does an increase in the per-unit price increase total profit? Under what conditions does an increase in the per-unit price reduce total profit? The individual inverse demand for customers in group one equals: P1 = 20 - q1. The individual inverse demand for customers in group 2 equals: P2 = 20 - 2q2. The marginal cost of production is constant and equal to $2/unit.
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