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Question
A firm has MR = 40 and MC = 10 + Q and has $200 in fixed costs.| (a) | If the firm is currently producing 20 units, what are its Marginal cost and Marginal Revenue at the current output level? |
| (b) | Is the firm maximizing profits? If so, how can you tell? If not, what can the firm do to increase profits? |
Answer
This answer is hidden. It contains 294 characters.
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