1.
We know that any profit maximizing firm will choose to sell where
MR = MC
. For the firm whose data are show, this occurs where output is 5 and price is 10, as shown to the right.
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1. We know that any profit maximizing firm will choose to sell where MR = MC. For the firm whose data are show, this occurs where output is 5 and price is 10, as shown to the right.
