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You are the manager of a monopolistically competitive firm, and your demand and cost functions are estimated as Q = 50 - 4P and C(O)

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You are the manager of a monopolistically competitive firm, and your demand and cost functions are estimated as Q = 50 - 4P and C(O) = 6 +20+02 Find the inverse demand function for your firm's product Inverse demand function P: b Determine the profit-maximizing price and level of production Price: $ 0 Quantity units c Calculate your firm's maximum profits Profits $ Instructions: Round your response to two decimal places

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