The cost function for a firm is given by TC = 5 +Q2 If the firm sell output in a perfectly competitive market and other firms in the industry sell output at a price of $20, What price should the manager of the firm put on the product? (2 marks) What level of output should be produced to maximize profits? (4 marks) How much profit would be earned? (4 marks)
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tv =182_279+729-81÷5-
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