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QUESTION 2 A firm has the following revenue and cost functions. TR = 100Q - Q2 TC=2Q2 +40Q+20 Determine the profit maximizing quantity and total

QUESTION 2

A firm has the following revenue and cost functions.

TR = 100Q - Q2

TC=2Q2 +40Q+20

Determine the profit maximizing quantity and total profit of the firm. (Hint: use marginal revenue = marginal cost rule)

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