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QUESTION
40 A marginal cost curve is given by MC=2Q An average cost curve is given by ATC = Q How many output will the firm produce? What is the total revenue?...
A demand curve is given by P= -Q+40
A marginal cost curve is given by MC=2Q
An average cost curve is given by ATC = Q
How many output will the firm produce?
What is the total revenue?
What is the total cost?
What is the profit?
Please show all work to arrive at each answer, I'm struggling to figure it out and I have a test tomorrow with all similar questions.
