1. The Global Marketing Group, LLC operates in a monopolistic competitive industry with the following Cost and Revenue data;Average Total Cost = $5.00, Quantity sold = 5000 Units, Average Revenue = $9.00, Marginal Revenue = $4.00, Marginal Cost = $4.00;(a) What is the profit maximizing output level for the firm?;(b) What is the Average Profit or Loss for the firm?;(c) What is the Total Profit or Loss for the firm?
Paper#31048 | Written in 18-Jul-2015Price : $22