Please indicate the correct answer and why.Thank you!
Homework Answers
Since the profit-maximizing condition are
MR=MC
or MR>MC
Hence according to the second condition the profit-maximizing price is =$32
Quantity=16 units
Profit=TR-TC
=512- (FC+VC)
=512- (1000+24*16)
=512- (1384)
=-($872)
Loss= $872
Hence Jose's loss is =$872 per month.
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