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On December 1, 20X7, George Jimenez needed a little extra cash for the upcoming holiday season, and sold 250 shares of Microsoft stock for $50 per share less a broker's fee of $200 for the entire sale transaction. Prior to the sale, George held the following blocks of Microsoft stock (associated broker's fee paid at the time of purchase):
If his goal is to minimize his current capital gain, how much capital gain will George report from the sale?
Market Power
The ability of a firm to influence or control the price and quantity of goods or services in a market.
Marginal Revenue
The additional income obtained from selling one more unit of a product or service.
Demand Schedule
A table that shows the quantity of a good or service that consumers wish to buy at each price level.
Output
The quantity of goods or services produced by a firm, industry, or economy in a given period.
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