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Question 4: [35 marks] For a stationary store with the following total revenue and cost functions: TR = 9Q - 3Q2 and TC = 20
Question 4: [35 marks] For a stationary store with the following total revenue and cost functions: TR = 9Q - 3Q2 and TC = 20 + 40 (a) Derive the profit function. [5 Marks] (b) Calculate at what output profit is maximised using two different methods and giving explanations. [15 marks for each method = 30 Marks]
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