Determine the level of profits, Microeconomics

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Determine the level of profits

A manufacturer faces the following (inverted) demand for its product:

P = 41.5 - 1.1 Q

And has the following Total Cost function:

TC = 150 + 10Q - 0.5 Q2 + 0.02 Q3

What is the profit maximizing level of output? Show all work.
What are the level of profits? Show all work.
Draw this situation in a diagram.

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Microeconomics: Determine the level of profits

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Microeconomics: Determine the level of profits

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Recent Questions Asked Microeconomics

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Microeconomics: Determine the level of profits

Reference No:- TGS0517245

Recent Questions Asked Microeconomics

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