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Question 3: Your total cost of production is given by TC(Q) = 80 + 2 Q + 1Q and your demand is Q (P )

Question 3: Your total cost of production is given by TC(Q) = 80 + 2 Q + 1Q and your demand is Q (P ) = 30 > |P: (i) Solve for your pro t-maximizing output level and price. (ii) Should you be in the business or shut your doors

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