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The market demand function of a company is given by 8P + Q - 64 = 0, and the company's average cost function takes the form AC = 8/Q + 6 - 0.4Q + 0.08Q2.
[A] Find the price and quantity for maximum sales revenue and compute the maximum revenue.
[B] Find the price and quantity for minimum marginal costs and compute the minimum marginal cost.
[C] Find the price and quantity for maximum profit and compute the maximum profit.

Microeconomics, Economics

  • Category:- Microeconomics
  • Reference No.:- M9309730

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