Fill in the missing data for price (P), total revenue (TR), marginal revenue (MR), total cost (TC),
Question:
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A. At what output (Q) level is profit maximized?
B. At what output (Q) level is revenue maximized?
C. Discuss any differences in your answers to parts A andB.
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a Profit increases so long as MR MC and M 0 In this problem profit is maximized at Q 4 where 185 and ...View the full answer
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