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Economics

You are the manager of a monopolistically competitive firm. The inverse demand curve you face is P = 50 - 4Q. Your cost function is C(Q) = 10 + 2Q. a) What level of output should you produce to maximize profits? b) What is your profits and what will happen in your market in the long run? describe.

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Microeconomics, Economics

Category:- Microeconomics
Reference No.:- M938466

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