What output level will the competitive firm choose in order, Ask an Expert

Economics

Consider a competitive firm that faces a linear demand curve, P = 6-3Q,

where Q is the quantity demanded and P is price.

The firmâ€^TMs total cost is: TC = 3Q

1. What output level will the competitive firm choose in order to maximize its profit?

2. What is the price at this output level?

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Business Economics, Economics

Category:- Business Economics
Reference No.:- M9447389

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