Assume that the market price = $24 and that the marginal revenue (MR) is also = $24
Fantastic news! We've Found the answer you've been seeking!
Question:
Assume that the market price = $24 and that the marginal revenue (MR) is also = $24 at all output levels.
The firm plans to produce 3 units of outputs
Given the cost information in the previous question
TC = 5 Q2 + 4 Q - 2
MC = 10 Q + 4.
Market price is = 24
Marginal revenue (MR) = 24 at all output levels.
What is the firm's total profit at the profit-maximizing output (the output level you derived in the previous question)?
Related Book For
Posted Date: