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Nieron
Answers (1)
Q = 410 – P and MC = 10 +5Q a) TC = FC + TVC (FC = $0, given) To derive TC (or TVC) from MC, integrate TC = 10/1Q + 5/2Q1 +1 = 10Q + 2.5Q2 b) Profit is maximized when MR = MC P = 410/1 – Q/1 = 410 – Q MR = 410 – (2)Q = 410 – 2Q MC = 10 + 5Q 410
