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Watchmaking firm operating in a competitive market

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Reference no: EM131447351

Suppose you are the manager of a watchmaking firm operating in a competitive market. Your cost of production is given by C = 200 + 2q2, where q is the level of output and C is total cost.

a. If the price of watches is $100, how many watches should you produce to maximize profit?¨

b. What will the profit level be?¨

c. At what minimum price will the firm produce a positive output? (in short-run)

Reference no: EM131447351

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