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Need help in the following Calculation Question [2|] MARKS] The Ca kEGngy Nut Shop is famous for its delicious cakes and patisseries. However. due to
Need help in the following
Calculation Question [2|] MARKS] The Ca kEGngy Nut Shop is famous for its delicious cakes and patisseries. However. due to limited knowledge, the owner often experiences problems fixing the right price for their products. The shop hires you as a consultant to provide the best decisions on pricing and output for maximum profit. Suppose the following information is provided to you: P = 625 121:1 Tc=35+5q+2q3 Help the shop owner learn about the: 'l. profit-maximising price and output in the short run [5 Marks] 2. prots in the short-run period [3 Marks] 3. profit-maximizing price and output in the long run [5 Marks] 4. prots in the long run [3 Marks] 5. number of cake businesses in the industryr [4 Marks]Step by Step Solution
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