Does the firm generate profit or incurr loss at 5 units of output? 60
67
revenue of 8 units is Birr 5, what is the marginal revenue of the 8th unit)
Assume that the marginal cost of a competitive firm is given by
and the marginal Revenue of the firm is given by,
the firms profit maximization level of output.
MR = - 20.
Then find,
MC = 6Q? – 4Q - 12
a
b
Review

What is the primary difference between jefferson’s and madison’s beliefs about the bill of rights? jefferson believed that a bill of rights was unnecessary, while madison believed that it was necessary. madison believed that it was important to have a bill of rights to protect against the majority. jefferson believed that that the federal system would protect rights without a bill of rights. madison disagreed with jefferson’s belief that a bill of rights would protect citizens.