Complete the columns for to conclude the profit maximizing

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Reference no: EM1321334

Q. The demand for widgets is given by the equation: Qd = 250 -8P. Compute the cost elasticity of demand at P = $12.50.

Q. MARKETPLACE
Consider the subsequent data for a firm:
Output Cost Total Cost
1 100 160
2 90 180
3 80 210
4 70 250
5 60 300
6 50 360
7 40 430
8 30 510
9 20 600
10 10 700

a) Is this firm in a competitive marketplace or a monopolist?

b) Complete the columns for to conclude the profit maximizing output for this firm.

c) Draw the relevant graph to show the profit maximizing output.

Reference no: EM1321334

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