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Title: A price-taking company is selling 1,000 units of a product for the market price of $100. The margin Post by: stars_and_moon on Jul 20, 2016 A price-taking company is selling 1,000 units of a product for the market price of $100. The marginal cost to make the 1,000th unit was $80. The company has profits of $50,000. Which of the following statements is true?
A) The company should lower its price so it can sell a higher quantity of the good to increase profit. B) The company is currently maximizing profit and shouldn't change price or the quantity it is selling. C) The company should raise its price and sell a lower quantity of the good to increase profit. D) The company should keep its price the same but sell a higher quantity of the good to increase profit. Title: Re: A price-taking company is selling 1,000 units of a product for the market price of $100. The ... Post by: kingby on Aug 8, 2016 Content hidden
Title: Re: A price-taking company is selling 1,000 units of a product for the market price of $100. The margin Post by: stars_and_moon on Aug 17, 2016 I compared your answer with a buddy, and it matches
Thanks Title: Re: A price-taking company is selling 1,000 units of a product for the market price of $100. The margin Post by: kingby on Aug 18, 2016 I was slightly debating this one, thanks for the feedback
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