A6.2 You are a manager for PetCarry, a manufacturer of high-quality pet carriers. Your research department has
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A6.2 You are a manager for PetCarry, a manufacturer of high-quality pet carriers. Your research department has given you the demand function for your pet carriers as Qd = 20,000 - 100P where Qd is the quantity of carriers demanded and P is the price. You know that your total cost of producing carriers is TC1Q2 = 30,400 + 4Q
a. What is the profit-maximizing price and quantity?
b. What is the amount of economic profit or loss?
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