Assume a profit maximizing firm’s short run cost is TC = 700+60Q. If its demand curve is P=300-15Q
Question: If the demand elasticity for a product is –2, and a profit maximizing firm sells the product for $10.00, its marginal cost must be?
a. _____ $5.00b. _____ $10.00
c. _____ $15.00
d. _____ $8.00
Price: $2.99
Solution: The solution consists of 1 page
Deliverable: Word Document
Deliverable: Word Document
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