Solved: Estimate the profit-maximizing prices, Microeconomics

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Estimate the profit-maximizing prices

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Q: Qus = 300,000 - 5,000*PusQmx = 240,000 - 8,000 * Pmxdraw a demand, marginal revenue and margincal cost curve for each market. Estimate the profit-maximizing prices and quantities graphically and determine the solutions algebraically. What are the firm's total profits (monthly)? Calculate the price elasticity of demand in each market at the optimal price.

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Microeconomics: Estimate the profit-maximizing prices

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