Business, 07.11.2019 03:31, aurorasweetpea610
Ben and jerry are managers at the company, and they have this discussion: ben: we should produce 4,000 lamps per month because that will minimize our average costs. jerry: but shouldn't we maximize profits rather than minimize costs? to maximize profits, don't we need to take demand into account? ben: don't worry. by minimizing average costs, we will be maximizing profits. demand will determine how high the price we can charge will be, but it won't affect our profit-maximizing quantity. evaluate the discussion between the two managers. ben's assertion that the firm should produce the quantity of lamps where average costs are minimized is
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Ben and jerry are managers at the company, and they have this discussion: ben: we should produce 4...
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