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One item is filed under this topic.
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Maximizing profits II |
2007-10-05 |
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From a student:
Suppose there are three firms with the same demand function. The function is Q=1000-40P. Each firm also a a cost function.
Firm 1: 4000+5Q,
Firm 2: 3000+5Q,
Firm 3: 3000+7Q.
What price should each firm charge if it wants to maximize profits.
Answered by Harley Weston. |
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