Question: Considera firm for whichMC = 4Q, TC= 1.2+ 2Q2, and the market priceisP* = 12. Calculate the profit-maximizing quantity and the firms profit. Thenmake a

Considera firm for whichMC = 4Q, TC= 1.2+ 2Q2, and the market priceisP* = 12.

Calculate the profit-maximizing quantity and the firm’s profit. Thenmake a graph with demand, MC, and AC, labeling the price, quantity, and profit.

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