You are the manager of a monopolistically competitive firm, and your demand and cost functions are estimated asQ= 46 2PandC(Q) = 6+ 2Q+Q².

a. Find the inverse demand function for your firm's product.

P=23 - blank Q

b. Determine the profit-maximizing price and level of production.

Instructions:Round your response to the nearest penny (two decimal places).

Price: $

Instructions:Round your response to one decimal place.

Quantity:

c. Calculate your firm's maximum profits.

Instructions:Round your response to the nearest penny (two decimal places).

$67.5Answer Correct