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Homework answers / question archive / A firm practices first-degree price discrimination
A firm practices first-degree price discrimination. The demand for the firm's product is defined as QD = 20 - 2P. If the firm has a constant marginal cost of production equal to $7 and the product is infinitely divisible, how much output should it produce to maximize profit?
a) 3
b) 5
c) 6
d) None of the above is correct.
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