Suppose there are two firms in the market, firm 1 and form 2, which face the following market demand curve P-300-5Q Suppose each firm has the following marginal costs MC-30 and MC 40. How much does each firm produce? What price will they sell their produce for? Round your answers to the nearest whole number Firm 1 will produce type your answer. Firm 2 will produce type your answer... The product will sell for $ type your answer. units

Suppose there are two firms in the market, firm 1 and form 2, which face the following market demand curve P-300-5Q Suppose each firm has the following marginal costs MC-30 and MC 40. How much does each firm produce? What price will they sell their produce for? Round your answers to the nearest whole number Firm 1 will produce type your answer. Firm 2 will produce type your answer... The product will sell for $ type your answer. units

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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