Find the optimum quantity and the optimum price level


Problem

The price of a product in a perfect competitive firm is 16 birr and the total cost functions are given as TC= 4Q2-8Q+15, respectively. Find the optimum quantity and the optimum price level, The profit/loss on these levels and At what price should the perfect competitive firm shut down?

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Microeconomics: Find the optimum quantity and the optimum price level
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