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Suppose the inverse demand function for a monopolistically competitive firm's product is given by=250 and the cost function is given by=2,500+1.5! 1. Determine the profit-maximizing

Suppose the inverse demand function for a monopolistically competitive firm's product is given by=250 and the cost function is given by=2,500+1.5!

1. Determine the profit-maximizing price and quantity

2. Determine the maximum profits.

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