Some quick questions: a. At Q = 8, a firms profit is $40. At Q = 9,
Question:
Some quick questions:
a. At Q = 8, a firm’s profit is $40. At Q = 9, its MR is $60 and its MC is $55. What is its profit at Q = 9?
b. At Q = 7, a firm’s profit is $70, and at Q = 8, it’s $75. The marginal cost of the eighth unit of output is $12. What is its marginal revenue?
c. At Q = 9, a firm’s profit is $100; at Q = 10, it’s $90. What do we know about the tenth unit’s marginal revenue and cost?
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