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Suppose you are the manager of a watch making firm

Suppose you are the manager of a watch making firm operating in a competitive market. Your cost of production is given by C = 200 + 2q2, where q is the level of output and C is total cost. (The marginal cost of production is 4q; the fixed cost is $200.)

a. If the price of watches is $100, how many watches should you produce to maximize profit?

b. What will the profit level be?

c. At what minimum price will the firm produce a positive output? :

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Solution Preview :

Prepared by a verified Expert

Microeconomics: Suppose you are the manager of a watch making firm

Reference No:- TGS0660324

Have a Question? (oR Write a Review)

Recent Questions Asked Microeconomics

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Solution Preview :

Prepared by a verified Expert

Microeconomics: Suppose you are the manager of a watch making firm

Reference No:- TGS0660324

Recent Questions Asked Microeconomics

Q : Give the number of electrons in an atom that can have the

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