Consider the following model of a firm. The firm can sell any number of units at the constant price, p. The marginal production is given by MC=c+dq. What will the price be when profit is maximised? a. dq-c b. c-dq c. p d. cq-d

Consider the following model of a firm. The firm can sell any number of units at the constant price, p. The marginal production is given by MC=c+dq. What will the price be when profit is maximised? a. dq-c b. c-dq c. p d. cq-d

Managerial Economics: A Problem Solving Approach

5th Edition

ISBN:9781337106665

Author:Luke M. Froeb, Brian T. McCann, Michael R. Ward, Mike Shor

Publisher:Luke M. Froeb, Brian T. McCann, Michael R. Ward, Mike Shor

Chapter9: Market Structure And Long-run Equilibrium

Section: Chapter Questions

Problem 1MC

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