A price-taking firms variable cost function is c q3 where
A price-taking firm's variable cost function is C = Q3, where Q is the output per week. It has an avoidable fixed cost of $2,000 per week. Its marginal cost is MC = 3Q2. What is the profit maximizing output if the price is P = $192?
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A price-taking firm's variable cost function is C = Q3, where Q is the output per week. It has an avoidable fixed cost of $2,000 per week. Its marginal cost is MC = 3Q2. What is the profit maximizing output if the price is P = $192
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