4. A firm faces the following average revenue (demand) curve: P = 100 - 0.01Q where Q is weekly p
4. A firm faces the following average revenue (demand) curve: P = 100 - 0.01Q where Q is weekly production and P is price, measured in cents per unit. The firm?s cost function is given by C = 50Q + 30,000. Assuming the firm maximizes profits,
(A)What is the level of production, price, and total profit per week?
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This question was answered on: Oct 14, 2020
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