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Demand and total cost functions

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Reference no: EM131071207

A firm faces the following demand and total cost functions:

Q = 28 - 0.5P

TC = 56.25 + 2Q + 0.25Q2

(a) Calculate Q that minimizes Average Cost.

(b) Calculate the Revenue-maximizing price.

(c) Calculate the Profit-maximizing price and quantity.

Reference no: EM131071207

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