You are the manager of a firm that sells its product in a competitive market with market (inverse) demand given by P = 50 ? 0.5Q. The market equilibrium price is $50. Your firm's cost function is C = 40 + 5Q2. Your firm's marginal revenue is:
A. MR(Q) = 50 ? Q.
B. $50.
C. MR(Q) = 10Q.
D. There is insufficient information to determine the firm's marginal revenue.
Answer: B
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a. True b. False Indicate whether the statement is true or false
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The macroeconomic policy planner’s job is made difficult because of
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