What product market did you choose for this data to represent? Explain why. I chose Nike Free Runs because they can reach pretty high prices are a popular type of shoes. At which price and quantity does marginal cost nearly equal marginal revenue without exceeding it? Highlight this point on your graph. Between a quantity of 5 & 6 pairs of shoes at $160. If you were in business for this product, at which price and quantity level would you sell? Explain why. I would sell the shoes for $160 and a quantity of 5 pairs because it?s when I can maximize my profit.
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