Question: The data in the table below give information about the price (in dollars) for which a firm can sell a unit of output and the
a) Fill in the blanks in the table.
b) Show what happens to the firm's output choice and profit if the price of the product falls from $60 to $50.
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MC MR MR 60 60 60 60 60 60 60 60 60 60 60 100 150 178 198 212 230 250 272 310 355 410 475 4 60
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a b The table below shows the firms revenue and cost for the two prices R p MC MR R MR p q P P ... View full answer
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