Firm marginal revenue at the current price and quantity

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A firms demand curve is given by P = 500 -2q, the direct Q = 250 - 1/2P. The firm's current price is $300 and the firm sells 100 units of output per week.

a. Calculate the firm's marginal revenue at the current price and quantity.

b. Using the Make-up Formula, determine the firms MC at the current price and quantity. Is the firm currently maximizing profits?

Reference no: EM131159671

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