EK AP economics
To find the profit-maximizing level of output, set marginal revenue equal to marginal cost: 11 - 2Q = 6, or Q = 2.5. That is, the profit-maximizing quantity equals 2,500 units. Substitute the profit-maximizing quantity into the demand equation to determine the price: P = 11 - 2.5 = $8.50. Profits are equal to total revenue minus total cost, ................
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