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Suppose that you estimate the following cost function for your company, which is a monopolistically competitive firm: TC=80Q-4Q^2+0.25Q3, and the following demand curve for your
Suppose that you estimate the following cost function for your company, which is a monopolistically competitive firm: TC=80Q-4Q^2+0.25Q3, and the following demand curve for your product: P=80-2Q. Compute and plot the average cost and marginal cost.
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