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A firm has a demand function and a total cost function as follows: P=$5,000-$3Q

:TC = $3000,000 + $1,000Q + $2Q^2

Compute the optimal output and price. Assuming:

The firm is maximizing total profit.

The firm is maximizing total revenue.

Microeconomics, Economics

  • Category:- Microeconomics
  • Reference No.:- M937547

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