Suppose that c q 10q 3500000 for which mc q 10 . use, Ask an Expert

Economics

Q. Price q Elasticity of Demand is equal to = 2 at every point along this demand curve. A. Suppose that C (q) = 10q + 3,500,000 (for which MC (q) = 10 ). Use Inverse Elasticity Pricing Rule in order to determine profit maximizing price and level of output for this firm. Is this firm able to earn a positive profit?

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Business Economics, Economics

Category:- Business Economics
Reference No.:- M9307461

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