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Q= 400-0.5P and TC=20,000 +50Q+3Q^2
a) Total profit is maximized at output of ? 750,625,850,75 or none
b) What is profit maximizing price? 810,750,650,600 or none
c) What will profits be at profit max output and price? 8000,8100,9050,8125 or none?
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Believe that they must be able to explain people's tastes in order to elucidate what happens when tastes change.
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