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Economics

You are the project executive of a monopolistically competitive firm. The present demand curve is P=100- 4 Q. Your total cost equation is C(Q)=50+8.5Q^2 , and MC = 17Q.

a. What level of output should you set to maximize profits?

b. What price would you charge?

c. What will happen in your market in the long run? Explain.

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Business Economics, Economics

Category:- Business Economics
Reference No.:- M91867253

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