Advantageous for all countries to utilize

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Reference no: EM138649

Q1. Is it advantageous for all countries to utilize cheaper labor or does importing your goods back to the U.S. still cost a firm to reach their niche market?

Q2. Short Run Profit Maximizing

The manufacture of high-quality flatbed scanners is trying to decide what price to set for its product. The costs of production and the demand for the product are assumed to be as follows: TC = 500,000 + 0.85Q + 0.015Q2 and Q =14,166 - 16.6P. Determine the short-run profit maximizing price.

Plot this information on a graph showing AC, AVC, MC, P and MR.

Reference no: EM138649

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