Calculate output price and economic profit show how

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P=54-1.5Q

MR=MTR/MQ=54-3Q

TC=200+6Q+0.5Q^2

MC=MTC/MQ=6+1Q

at profit max, Q=12 and P=36

calculate output, price and economic profit (show how you get there) and point price elasticity of demand at this output level

Reference no: EM13339503

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