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From the scenario, assuming Katrina's Candies is operating in the monopolistically competitive market structure and faces the following weekly demand and short-run cost functions: VC = 20Q+0.006665 Q2 with MC=20 + 0.01333Q and FC = $5,000 P = 50-0.01Q and MR = 50-0.02Q *Where price is in $ and Q is in kilograms. All answers should be rounded to the nearest whole number. Algebraically, determine what price Katrina's Candies should charge in order for the company to maximize profit in the short run. Determine the quantity that would be produced at this price and the maximum profit possible
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21st Century Pen Inc. produces 2000 pens per day, and hires 20 workers at a cost of $200 per day per worker. The price of each pen is $5 each. 21st Century Pen Inc. pays a daily rental rate of $60 on its factory and a daily insurance rate of $20. ..
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