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3.05 Getting The Most For Your Money

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Brooklyn Ransome

on 1 December 2014

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Transcript of 3.05 Getting The Most For Your Money

3.05 Getting The Most For Your Money
Reflection Questions
What product market did you choose for this data to represent? Explain why.
I chose for the data to represent cell phone contracts because the prices are about the same.

At which price and quantity does marginal cost nearly equal marginal revenue without exceeding it? Highlight this point on your graph.
Marginal cost nearly equals marginal revenue at the quantity of 5 and the price of 260.

If you were in business for this product, at which price and quantity level would you sell? Explain why.
If I were in business for this product, I would sell the cell phone contracts at the quantity of 5 and price of 260 because this is where I have the biggest profit of 448.
Data Table
Graph
Full transcript