This preview shows page 1. Sign up to view the full content.
Unformatted text preview: c) Suppose that the farmers decide to withhold some of their produced milk in an eﬀort to raise the price in the market. Find the amount of quantity they will need to withhold such that their total revenues are maximized. 1...
View Full Document
This note was uploaded on 04/04/2012 for the course ECON 010 taught by Professor Stein during the Fall '07 term at UPenn.
- Fall '07