A competitive firm has the following cost function tc 02q2, Business Economics

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A competitive firm has the following cost function tc 02q2

A competitive firm has the following cost function: TC = 0.2Q2 + 6Q + 12 The firm believes the market price for their product will be $11 with probability 0.45. Otherwise, they believe the market price for their product will be $18. Find the firm's expected profit. Round your answer to one decimal.

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Business Economics: A competitive firm has the following cost function tc 02q2

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