Find the profit-maximizing output and price

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Suppose your firm faces a demand curve of P = 90 - .30Q and the marginal cost of produc- tion is $10 per unit. Find the profit-maximizing output and price. Display this choice graphically (showing the demand, marginal revenue, and marginal cost curves). Is this outcome on the elastic, inelastic, or unitary elastic part of the demand curve? What are your profits?

Reference no: EM13921598

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