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Given the following demand and total cost functions for a firm
P = 4500 - 0.5Q2
TC = 1.5Q3 - 50Q2 + 1000
i) the marginal profit function
ii) the profit maximizing output level
iii) the price elasticity of demand, given that Q = 50 units
can average labor productivity fall even though total output is rising
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How we constract the cost structure of firms
explain the marginal produtivity theory
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You have decided to sell some goods at a local music festival. You have hired a sales stand for $500. Your cost per item is $3 and you will sell each item for $5. When you did your
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