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The demand equation of a good is given by P + 2 x = 20 and the total cost function is - 8+ 20 x
The demand equation of a good is given by
P + 2x = 20
and the total cost function is
- 8+ 20x + 2
(a) Find the level of output that maximizes total revenue.
(b) Find the maximum profit and the value of x at which it is achieved.
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