An Amusement Park Faces a Demand Curve of Q =

question 85

Essay

An amusement park faces a demand curve of Q = 40 - 0.4P and marginal cost of MC = 1.25Q, where Q is measured in hundreds of customers.
a. Calculate the amusement park's profit-maximizing output level.
b. Calculate the amusement park's profit-maximizing price.

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Recruitment Process

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