At a price of $16 per CD, a firm sells 60 CDs. If the slope of the demand curve is - $0.15, marginal revenue for the 61st CD is $. (Enter your response rounded to the nearest penny.) The firm should cut the price to sell one more CD if the marginal cost is less than $. (Enter your response rounded to the nearest penny.)

At a price of $16 per CD, a firm sells 60 CDs. If the slope of the demand curve is - $0.15, marginal revenue for the 61st CD is $. (Enter your response rounded to the nearest penny.) The firm should cut the price to sell one more CD if the marginal cost is less than $. (Enter your response rounded to the nearest penny.)

Microeconomic Theory

12th Edition

ISBN:9781337517942

Author:NICHOLSON

Publisher:NICHOLSON

Chapter18: Asymmetric Information

Section: Chapter Questions

Problem 18.3P

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