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Business, 18.03.2021 02:40 jobrains3220

Maria's profit is maximized when she produces frying pans. When she does this, the marginal cost of the last frying pan she produces is $ , which is than the price Maria receives for each frying pan she sells. The marginal cost of producing an additional frying pan (that is, one more frying pan than would maximize her profit) is $ , which is than the price Maria receives for each frying pan she sells. Therefore, Maria's profit-maximizing quantity corresponds to the intersection of the curves. Because Maria is a price taker, this last condition can also be written as .

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Maria's profit is maximized when she produces frying pans. When she does this, the marginal cost of...
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