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marginal cost

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Maximizing profits II 2007-10-05
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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