Firm decision question! The study must pay the band $10 million to mike the CD and the marginal cost of printing the CD is always $3 per dic. P is price , in dollars. Q is quantity demanded, listed in millions of CDs. calculate total revenue, MR , Fix cost, VC, profit price Q 18 0 17 1 16 2 15 3 14 4 13 5 12 6 11 7 10 8 9 9 8 10 then graph demand curve MR and and MC. The question is that;
Demand curve is representative of demand forant Grace potter CD. What is the most money she and the band could ask for in order to make their next CD that would still allow the firm to produce the CD? the firms decisions on price and quantity? what is the minimum amount of economic profit a firm needs to still make the product? how much could grace potter and nocturnals make while still allowing the studio to stay in business?
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