Suppose a firm's profit is given by the equation profit = –400 + 100Q – 0.5Q2, where Q = quantity. Which of the following is true?
1) The firm's marginal profit (mp) is given by the equation: mp = 100 – 0.25Q.
2) The firm's profit-maximizing output is Q = 100.
3) The firm's profit-maximizing output is Q = 200.
4) The firm's marginal profit is given by the equation: mp = 100 – 0.75Q.
5) The firm's profit-maximizing output is Q = 400.
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Suppose a firm's profit is given by the equation profit = –400 + 100Q – 0.5Q2,...
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