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i want the answer to be sloved with simple english words Thanks Guidelines The solution shall be typewritten and submitted via the ITC module only.

i want the answer to be sloved with simple english words
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Guidelines The solution shall be typewritten and submitted via the ITC module only. The graphs can be handwritten and submitted in jpg or png format Due date: Saturday 28/08/2021 Question: Suppose that the total cost function of a firm that produces good X is given by TC = 0.57% +59 + 100 where q is the number of unites of X produced by the firm. 1. If P = $50, then how many units of a shall the firm produce to maximize its profit? 2. If the demand curve for good X is P = 100 - 9, then how many units of q shall the firm produce to maximize its profit? 3. Suppose that income increases which shifts the demand curve upward. The new demand curve is P = 150 - Q. How many units of q shall the firm produce to maximize its profit? 4. Compare results in 1 and 2 graphically. Comment on the graph? 5. Compare results in 2 and 3 graphically. Comment on the graph

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