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14 January, 07:48

What price will farmer brown charge when maximizing profit?

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  1. 14 January, 08:03
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    Farmer Brown will have to charge enough to make sure he is receiving the most money for his product. He needs to make sure what he charges is more than what it costs to make his item and then profit what he would like. Maximizing profit refers to producing the quantity of output where marginal revenue is equal to marginal cost.
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