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You are the project executive of a monopolistically competitive firm. The present demand curve is P=100-4Q . Your total cost equation is C(Q)=50+8.5Q2 , 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.:- M91870349

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