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Given QD 6 Pand TC = 3 + 2 * QS... a.) Is this firm a price searcher or a price taker? Why? b.) For Q = 0 to 6, calculate the seven values for P, TR, TC, profits, MR, and MC. c.) Should this firm remain open in the SR? Explain why. d.) Draw D, MR, MC, and equilibrium P&Q. Be careful to label everything well.

Given QD 6 Pand TC = 3 + 2 * QS... a.) Is this firm a price searcher or a price taker? Why? b.) For Q = 0 to 6, calculate the seven values for P, TR, TC, profits, MR, and MC. c.) Should this firm remain open in the SR? Explain why. d.) Draw D, MR, MC, and equilibrium P&Q. Be careful to label everything well.

Microeconomic Theory
Microeconomic Theory
12th Edition
ISBN:9781337517942
Author:NICHOLSON
Publisher:NICHOLSON
Chapter12: The Partial Equilibrium Competitive Model
Section: Chapter Questions
Problem 12.9P
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Given QD 6 Pand TC = 3 + 2 * QS... a.) Is this firm a price searcher or a price taker? Why? b.) For Q = 0 to 6, calculate the seven values for P, TR, TC, profits, MR, and MC. c.) Should this firm remain open in the SR? Explain why. d.) Draw D, MR, MC, and equilibrium P&Q. Be careful to label everything well.
Transcribed Image Text:Given QD 6 Pand TC = 3 + 2 * QS... a.) Is this firm a price searcher or a price taker? Why? b.) For Q = 0 to 6, calculate the seven values for P, TR, TC, profits, MR, and MC. c.) Should this firm remain open in the SR? Explain why. d.) Draw D, MR, MC, and equilibrium P&Q. Be careful to label everything well.
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