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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 Thanks 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
i want the answer to be sloved with simple english words
Thanks
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