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
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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Suppose there are two firms in the market, fem 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.
units
units
Firm 2 will produce type your answer...
The product will sell for 5 type your answer.
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