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What are the profit-maximizing price

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Reference no: EM131961947

Suppose that the inverse demand equation for a firm's product is P = 420-10Q. (11.2) The total cost is given by the equation TC = 500+20Q^2. (11.3)

a. What are the profit-maximizing price and quantity from a single-price strategy?

b. Given your answer to part a, what is the firm's total operating profit? What is the firms total operating profit if it engages in perfect first-degree price discrimination? What is the firm's total economic profit?

Reference no: EM131961947

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