SOLVED: A firm faces the following average revenue (demand) curve:P = 120 - 0.02Qwhere Q is weekly production and P is price, measured in cents per unit. The firm's cost function is given by:C = 45Q 25000Assume that the firm maximizes profits. Part 2a. What is the level of production, price, and total profit per week? (Round all responses to two decimal places.)The equilibrium quantity is units, the price is cents, and the total profit is per week.
SOLVED: A firm faces the following average revenue (demand) curve:…
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