ch10_p1 - marginal revenue that utilizes the price...

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10_1. A firm's demand curve is given by P = 500 - 2Q. The firm's current price is $300 and the firm sells 100 units of output per week. a. Calculate the firm's marginal revenue at the current price and quantity using the expression for
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Unformatted text preview: marginal revenue that utilizes the price elasticity of demand. b. Assuming that the firm's marginal cost is zero, is the firm maximizing profit?...
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