Question: Label the curves in the diagram and answer following questions.. 11 a) What output should this firm produce Price, in order to maximize its

Label the curves in the diagram and answer following questions.. 11 a) What output should this firm produce

Label the curves in the diagram and answer following questions.. 11 a) What output should this firm produce Price, in order to maximize its profit? & Cost b) What Price should this firm charge? c) What is the firms' total revenue at the profit maximizing output? d) What is the firms' total cost at the profit maximizing output? 10 9 8 7 6 5 4 0 400 500 600 700 Quantity

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