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Assume a perfectly competitive firm has the following revenue and cost functions TC= 11,250 + 10 Q + 0.02 Q^2 AVC= 10 + 0.02 Q
Assume a perfectly competitive firm has the following revenue and cost functions
TC= 11,250 + 10 Q + 0.02 Q^2
AVC= 10 + 0.02 Q
MC= 10 + 0.04 Q
TR= 40 Q
the level of output, Q, and price, P, that maximizes Profits, if any, for this firm is:
A) 750, $40
B) 750; $80
C) 40; $750
D) None of these
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