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In the model of perfect competition all firms are price-takers since they treat price as a market-determined constant. Firm Perfcomp's total revenue function is TR(Q)=P*Q in which P equals the output price. Assume that P=24 and the total cost function is TC(Q) =Q3-7.5Q2+36Q-10

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Microeconomics, Economics

Category:- Microeconomics
Reference No.:- M91603208

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