Asked by

Kitty Louie
on Oct 14, 2024

verifed

Verified

if the demand for pigeon pies is given by p(y)  50  y/2, then the level of output that will maximize Peter's profit is

A) 100.
B) 50.
C) 150.
D) 10.
E) None of the above.

Pigeon Pies

A traditional British dish made using pigeon meat, often encased in pastry and baked.

Output

The complete volume of products or services generated by a business, sector, or economic structure.

Profit

Profit is the financial gain that is achieved when the amount of revenue gained from a business activity exceeds the expenses, costs, and taxes involved in sustaining the activity.

  • Calculate profit maximization levels for different production and cost scenarios.
verifed

Verified Answer

AF
Ashley FergusonOct 17, 2024
Final Answer:
Get Full Answer