Demand for product X is X = 140 - 2P, where P is price. Two companies, Company OldRags and Company ZeroFun both produce good X. Both companies have total cost 22 + 2x;, where X; is a company's production output. If OldRags produces 30 units and ZeroFun makes 42 units, then OldRags will have profit and ZeroFun will have profit O 938; 1,322 O 938; 1,222 O 978; 1,322 O 978; 1,222

Demand for product X is X = 140 - 2P, where P is price. Two companies, Company OldRags and Company ZeroFun both produce good X. Both companies have total cost 22 + 2x;, where X; is a company's production output. If OldRags produces 30 units and ZeroFun makes 42 units, then OldRags will have profit and ZeroFun will have profit O 938; 1,322 O 938; 1,222 O 978; 1,322 O 978; 1,222

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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