Find the inverse demand function for firm-s product, Microeconomics

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Find the inverse demand function for firm-s product

You are the manager of a monopolistically competitive firm, and your demand and cost functions are given by Q=20-2P and C(Q)=104-14Q+Q2.

a. Find the inverse demand function for your firm's product.
b. Determine the profit-maximizing price and level of production.
c. Calculate your firm's maximum profits.
d. What long-run adjustments should you expect? Explain.

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Microeconomics: Find the inverse demand function for firm-s product

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Microeconomics: Find the inverse demand function for firm-s product

Reference No:- TGS062994

Have a Question? (oR Write a Review)

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Reference No:- TGS062994

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