a) Calculate the output when profit is maximized b) Calculate the optimal price that maximizes profit c)

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a) Calculate the output when profit is maximized

b) Calculate the optimal price that maximizes profit

c) Determine the optimal sales revenue

d) Calculate the maximum profit

Demand function: P=60+2Q, where P is the unit selling price and Q is quantity of units in thousands.

Cost function: TC= 3Q² - 2Q + 200, where TC is total costs in thousands of dollars.

Posted Date: Dec 03, 2021 10:28 PM

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a) Calculate the output when profit is maximized b) Calculate the optimal price that maximizes profit c)

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Expert Answer:

optimal sales revencee is obtained when Q 62 6082... View the full answer

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