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You are the manager of a firm that has an exclusive license to produce your product. The inverse market demand curve is P = 900 - 1.5Q. Your cost function is C(Q) = 2Q + Q2. Determine the output you should produce, the price you should charge, and your profits.

Microeconomics, Economics

  • Category:- Microeconomics
  • Reference No.:- M938892

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