Q6. For a perfect competitive firm, the following short run function in givenTC=2+4Q+Q2 P = 1⁄2 + 2/Q + 3Q If the price of the product prevailing in the market is Rs. 8 at what level of the output the firm will maximize the profit? a) Use TR and TC approach. b) Use MR and MC Approach. Find the value of Q and also find out the profit of a firm?
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