Use the graphs above to answer the questions. a. If this firm wants to maximize profits, what
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a. If this firm wants to maximize profits, what price will it charge in Market 1, and what quantity will it sell?
b. If this firm wants to maximize profits, what price will it charge in Market 2, and what quantity will it sell?
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Price and cost 12 10 4 Marginal cost Demand in MRMarket Market 1 10 20 30 40 50 Quantity sold in Market 1 60 2. Price and cost 12- 10 Marginal cost Demand in MRMarke Market 2 90 Quantity sold in Market 2 10 20 30 40 50 60 70 80 100 110 2.
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a The graph shows that in Market 1 marginal revenue equals ma...View the full answer
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