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Suppose the demand curve for a firm is Q = 50 - 0.125P, where Q measures units of output and P is the price per unit.
a. Derive the firm's marginal revenue curve.
b. What is the value of marginal revenue at 10 units of output?
c. Graph the firm's demand and marginal revenue curve.
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The total expenditure that an employer incurs on employees, including wages, benefits, and taxes.
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