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Specify the bounds of output and price for the function

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Reference no: EM13877362

A firm has a quadratic total cost function given by TC = 6Q2- 12Q + 80

(a) Specify the bounds of output and price for the function.

(b) Find the break-even levels of output if the market price is $38.

(c) Show that the profit maximizing level of output when price is $38 is the average of the break-even levels.

Reference no: EM13877362

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