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Managerial Economics 2nd Edition by William Boyes
Edition 2ISBN: 978-0618988624Managerial Economics 2nd Edition by William Boyes
Edition 2ISBN: 978-0618988624 Exercise 9
Draw a perfectly elastic demand curve on top of a standard U-shaped average total cost curve. Now add in the marginal cost and marginal revenue curves. Find the profit-maximizing point, MR = MC. Indicate the firm's total revenues and total cost.
Explanation
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Profit maximization:
The main goal of t...
Managerial Economics 2nd Edition by William Boyes
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