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Find the price at which the firm sells the product Suppose that a firm maximizes

Find the price at which the firm sells the
product

Suppose that a firm maximizes its total profits and has a
marginal cost (MC) of production of $8 and the price elasticity of demand for
the product it sells is (-)3 Find the price at which the firm sells the
product (Use equation (3012) and to maximize the profits, MR has to equal MC

 

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Mar 17 2020 View more View Less

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