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2. Ajax cleaning products is a medium-sized firm operating in an industry dominated by one large firm- Tile king. Ajax produces a multiheaded tunnel wall scrubber that is similar to a model produced by Tile King. Ajax decides to charge the same price as Tile King to avoid the possibility of a price war. The price charged by Tile King is $20,000.
Ajax has the following short-run cost curve:
Tc=800,000 - 5,000Q + 100Q square
A. Compute the marginal cost curve for Ajax.
B. Given Ajaxs pricing strategy, what is the marginal revenue function for Ajax?
C. Compute the profit-maximizing level of output for Ajax.
D. Compute Ajaxs total dollar profits.


Economics for managers 12th edition
By James R. Mcguigan

Microeconomics, Economics

  • Category:- Microeconomics
  • Reference No.:- M91099004

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