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Imagine that the company ABC produces an undifferentiated product in a single plant. The price is determined by market factors like demand and supply and

Imagine that the company ABC produces an undifferentiated product in a single plant. The price is determined by market factors like demand and supply and therefore given. The current market price of the product is $70 per ton and XYZ does not expect it to change in the foreseeable future. Assume that XYZ's cost function is equal toTC = 450 - 10Q +2Q2 and represents cost per day while Q represents the daily volume of output.What are ABC's total profits at the profit maximizing level of output?

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