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A firm that operates in a competitive market has a total cost of production given by TC(Q) = 3,000 + 5 Q + 18 Q2 and marginal cost given by MC(Q) = 5 + 36 Q. The market price for the product it sells is P = $239. Then the profit maximizing quantity is

  • Q = 234
  • Q = 6.5
  • Q = 7.8
  • None of the above

Reference no: EM131106007

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