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2. Given a firm’s demand function, P = 24 - 0.5Q and the average cost function, AC = Q2 – 8Q + 36 + 3/Q, calculate the level of...Asked by snehavalli
Given a firm’s demand function, P = 24 - 0.5Q and the average cost function, AC = Q2 – 8Q + 36 + 3/Q, calculate the level of output Q which a) maximizes total revenue
b) maximizes profits
b) maximizes profits
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