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A firm faces the following inverse demand equation for the commodity it produces: P = 100 Q where P represents the price/unit of the commodity

A firm faces the following inverse demand equation for the commodity it produces:

P = 100 Q

where P represents the price/unit of the commodity it produces and Q represents the level of output produced.

The cost structure of this firm is summarized by the following Total Cost function:

C = 1/3 Q3 7Q2 + 115.75Q + 20

where C represents the Total Cost of production.

A: What is the firms Total Revenues function?

B: What is the firms marginal revenue function?

C: What is this firms marginal cost function?

D: What is this firms Total Benefit (profits) function?

E: Find the benefit (profit) maximizing level of output?

F: What are this firms maximum benefits (profits)?

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