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Suppose az firm's demand function as Q=5-0.5p, where P is price and Q is the rate of the total cost function TC = 20+ 0.2Q^2,
Suppose az firm's demand function as Q=5-0.5p, where P is price and Q is the rate of the total cost function TC = 20+ 0.2Q^2, where TC is total cost.
Determine the,
- Total revenue and profit functions for the firm
- Level of output that maximises total profit
- Maximum profit for this company
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Slavery And American Economic Development
Authors: Gavin Wright
1st Edition
0807152285, 9780807152287
