Refer to the following table which gives the demand and cost data for a price-setting firm:
$$\begin{array} { c c c }
\text { Price } & \text { Dutput } & \text { Tatal Cost } \
\hline \$ 20 & 7 & \mathbf { 3 6 } \
19 & \mathbf { 8 } & 45 \
1 \mathbf { 9 } & \mathbf { 9 } & \mathbf { 5 4 } \
17 & 10 & \mathbf { 6 3 } \
16 & 11 & 72 \
15 & 12 & \mathbf { 8 1 }
\end{array}$$
-What is the profit-maximizing price?

Question

Refer to the following table which gives the demand and cost data for a price-setting firm:
 $$\begin{array} { c c c } 
\text { Price } & \text { Dutput } & \text { Tatal Cost } \
\hline \$ 20 & 7 & \mathbf { 3 6 } \
19 & \mathbf { 8 } & 45 \
1 \mathbf { 9 } & \mathbf { 9 } & \mathbf { 5 4 } \
17 & 10 & \mathbf { 6 3 } \
16 & 11 & 72 \
15 & 12 & \mathbf { 8 1 }
\end{array}$$
-What is the profit-maximizing price?

Quizplus · Accepted Answer

The Answer of Refer to the following table which gives the demand and cost data for a price-setting firm:
 $$\begin{array} { c c c } 
\text { Price } & \text { Dutput } & \text { Tatal Cost } \
\hline \$ 20 & 7 & \mathbf { 3 6 } \
19 & \mathbf { 8 } & 45 \
1 \mathbf { 9 } & \mathbf { 9 } & \mathbf { 5 4 } \
17 & 10 & \mathbf { 6 3 } \
16 & 11 & 72 \
15 & 12 & \mathbf { 8 1 }
\end{array}$$
-What is the profit-maximizing price?

Refer to the Following Table Which Gives the Demand and Cost