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There are currently 60 perfectly competitive firms producing output q. Their cost function is C = 10 + 3q^2 he demand in this market is QD = 1200 - 40p. Each firm's variable profit is? Show graphically too! a) 48 b) 2880 c) 24 d) 240 e) 32

There are currently 60 perfectly competitive firms producing output q. Their cost function is C = 10 + 3q^2 he demand in this market is QD = 1200 - 40p. Each firm's variable profit is? Show graphically too! a) 48 b) 2880 c) 24 d) 240 e) 32

Principles Of Marketing
Principles Of Marketing
17th Edition
ISBN:9780134492513
Author:Kotler, Philip, Armstrong, Gary (gary M.)
Publisher:Kotler, Philip, Armstrong, Gary (gary M.)
Chapter1: Marketing: Creating Customer Value And Engagement
Section: Chapter Questions
Problem 1.1DQ
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There are currently 60 perfectly competitive firms producing output q. Their cost function is C = 10 + 3q^2 he demand in this market is QD = 1200 - 40p. Each firm's variable profit is? Show graphically too! a) 48 b) 2880 c) 24 d) 240 e) 32
Transcribed Image Text:There are currently 60 perfectly competitive firms producing output q. Their cost function is C = 10 + 3q^2 he demand in this market is QD = 1200 - 40p. Each firm's variable profit is? Show graphically too! a) 48 b) 2880 c) 24 d) 240 e) 32
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