You Are the Manager of a Firm That Produces Output

question 8

Multiple Choice

You are the manager of a firm that produces output in two plants.The demand for your firm's product is P = 78- 15Q, where Q = Q₁ + Q₂.The marginal cost associated with producing in the two plants are MC₁ = 3Q₁ and MC₂ = 2Q₂.What price should be charged in order to maximize revenues?

• A)$39.
• B)$47.
• C)$52.
• D)$56.

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Definitions:

Basic Psychology

The study of psychological issues for the sake of knowledge rather than for its practical application.

Gestalt Psychologists

Psychologists who study how people integrate and perceive sensory information to understand complex scenes as whole entities.

Visual Principles

Refers to foundational concepts in visual arts and design that guide the organization and interpretation of visual information, such as balance, contrast, and harmony.

Selective Attention

The process by which a person focuses on one or a few sensory inputs while ignoring others.