The manufacturer of high-quality flatbed scanners is trying to decide what price to set for its product. The costs of production and the demand for the product are assumed to be as follows:
Determine the short-run profit-maximizing price
Plot this information on a graph showing AC, AVC, MC, P and MR.
For Question b), using quantity from 1 to 20.
Determine the short-run profit-maximizing price
Plot this information on a graph showing AC, AVC, MC, P and MR. (Excel)