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Revenue and cost functions

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Reference no: EM132134411

Assume that a perfectly competitive firm has the following revenue and cost functions:

TC= 5625 +5Q + 0.01Q^2

AVC=5 + 0.01Q

MC=5 + 0.02Q

TR=20Q

A) what is the level of output that maximizes profits, if any? Compute profit, if any?

B) Should this firm continue producing if MR falls to $10? Explain

Reference no: EM132134411

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