Essay
A perfectly competitive firm has total revenue and total cost curves given by:
TR = 100Q
TC = 5,000 + 2Q + 0.2 Q2
a.Find the profit-maximizing output for this firm.
b.What profit does the firm make?
Correct Answer:
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a.MR = 100 MC = 2 + .4Q 100 = ...View Answer
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Correct Answer:
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