A ?rm faces the demand for its product, P = 100 ? 0-5Q , as shown in the ?gure below. It produces under conditions of constant costs in the long run, and LMC = LAC = $12 per unit. Answer the next 5 questions using this information. 14?1 C 100. ?E 3 B 0. <3); P=100-0.5Q a O O 'O C (V5 0 .2 i 12 \LMC=LAC 0 260 Quantity A ?rm faces the demand and cost conditions for its product given in the ?gure. If the ?rm must set a uniform price for the good, what price will it set to maximize its pro?t in the long run? a. $12 b. $24 c. $25 d. $30 e. none of the above
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