| << Chapter < Page | Chapter >> Page > |
Card 22 / 28:
Suppose that the market price increases to $6, as shown in . What would happen to the profit-maximizing output level?
When the market price increases, marginal revenue increases. The firm would then increase production up to the point where the new price equals marginal cost, at a quantity of 90.
| Previous Card | ← Previous Card Button |
| Next Card | → Next Card Button |
| Flip Card | ↑ / ↓ / Return / Space |
Notification Switch
Would you like to follow the 'Openstax microeconomics in ten weeks' conversation and receive update notifications?
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|