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[DOC File]Microeconomics, 7e (Pindyck/Rubinfeld)
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A) the profit maximizing output will double . B) the marginal revenue doubles . C) at the new profit maximizing output, price has increased more than marginal cost . D) at the new profit maximizing output, price has risen more than marginal revenue . E) competitive firms will earn an economic profit in the long-run. Answer: B. Diff: 1. Section: 8.3
profit maximizing rate of output

[DOC File]University of Wisconsin–Madison
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To find the profit maximizing quantity to sell in Class One equate the MR for Class One to the MC. Thus, 10 – 2Q = 1 or Q = 4.5 units. To find the profit maximizing price use this quantity and demand curve for Class One: P = 10 – Q = 10 – 4.5 = $5.50 per unit sold. j. What is the profit maximizing quantity to sell to Class Two?
how to find profit maximization

[DOC File]St. Johns County School District
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2. Because TR = P x Q and TC = ATC x Q, we can rewrite this equation: Profit = (P – ATC) x Q. 3. Using this equation, we can measure the amount of profit (or loss) at the firm's profit-maximizing level of output (or loss-minimizing level of output). III. The Supply Curve in a Competitive Market. A.
profit maximizing price equation

[DOC File]University of Pittsburgh
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Determine the profit-maximizing output and the amount of its short-run profits or losses. 27. Use the per unit cost and revenue curves to graph the short-run profit-maximizing price and output for a perfectly competitive firm whose production function has decreasing average productivity of the variable input over its entire output.
maximize profit math

[DOC File]$ per unit
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Since profit-maximization occurs where P = MC, it follows that we can substitution P for MC in the above MC equation. This gives us the following supply curve: P = 2 + 0.2Q (this is actually the inverse supply function; if we solve for Q we get the supply function -- Q = -10 + 5P).
formula to maximize profit

[DOC File]PART III - University of Houston
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To find the profit-maximizing level of output, set marginal revenue equal to marginal cost: 11 - 2Q = 6, or Q = 2.5. That is, the profit-maximizing quantity equals 2,500 units. Substitute the profit-maximizing quantity into the demand equation to determine the price: P = 11 - 2.5 = $8.50. Profits are equal to total revenue minus total cost,
profit maximizing level of output

[DOCX File]Chapter 8: Answers to Questions and Problems
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Since the monopolist maximizes profits where MR = MC, the profit-maximizing price can be obtained by solving the following equation: (2/3)×P = 20, so P = $30. Chastise the manager. Profit maximization requires producing where MR = MC. Since you are a perfectly competitive firm, the price you charge is determined in a competitive market.
maximum profit formula

[DOC File]PART III - University of Houston
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To find the profit-maximizing level of output, set marginal revenue equal to marginal cost: 11 - 2Q = 6, or Q = 2.5. That is, the profit-maximizing quantity equals 2,500 units. Substitute the profit-maximizing quantity into the demand equation to determine the price: P = 11 - 2.5 = $8.50. Profits are equal to total revenue minus total cost,
profit maximizing output level formula

Profit maximizing output equation