Peter Morgan sells pigeon pies from his pushcart in Central Park. Due to the abundant supplies...

Peter Morgan sells pigeon pies from his pushcart in Central Park. Due to the abundant supplies of raw materials, his costs are zero. The demand schedule for his pigeon pies is p(y) =80-y/4 . What level of output will maximize Peter’s profits?

164
480
32
320
None of the above

Expert Solution

The answer is option e- None of the above

Peter Morgan sells pigeon pies from his pushcart in Central Park. Due to the abundant supplies of raw materials, his costs are zero. The demand schedule for his pigeon pies is p(y) =80-y/4 . What level of output will maximize Peter’s profits- none of the above

Rahul Sunny answered 2 years ago

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