The market demand for MP3 players is p = 50 – 0.5Q, and the marginal c
The market demand for MP3 players is p = 50 – 0.5Q, and the marginal cost for an MP3 player is $10. If Nick receives 60% of the total profit, then
A) Nick will produce 50 MP3 players.
B) Nick receives $500 as profit.
C) total profit is $800.
D) the efficiency in production is not achieved.
ANSWER
C
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