What output and price should the firm in the following example choose?   a. quantity = 4; price = $7.00 b. quantity = 6; price = $6.00 c. quantity = 8; price = $9.00 d. quantity = 4; price = $4.00

Principles Of Marketing
17th Edition
ISBN:9780134492513
Author:Kotler, Philip, Armstrong, Gary (gary M.)
Publisher:Kotler, Philip, Armstrong, Gary (gary M.)
Chapter1: Marketing: Creating Customer Value And Engagement
Section: Chapter Questions
Problem 1.1DQ
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What output and price should the firm in the following example choose?

 

a. quantity = 4; price = $7.00

b. quantity = 6; price = $6.00

c. quantity = 8; price = $9.00

d. quantity = 4; price = $4.00

What output and price should the firm in the
following example choose?
Price
$10
$8
$6
$4
$2
2
4
6
Marginal cost
Firm
demand curve
Marginal revenue
8 10 Quantity
O quantity = 4; price = $7.00
OA. quantity = 6; price = $6.00
O quantity = 8; price = $9.00
quantity = 4; price = $4.00
Transcribed Image Text:What output and price should the firm in the following example choose? Price $10 $8 $6 $4 $2 2 4 6 Marginal cost Firm demand curve Marginal revenue 8 10 Quantity O quantity = 4; price = $7.00 OA. quantity = 6; price = $6.00 O quantity = 8; price = $9.00 quantity = 4; price = $4.00
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