Question: A competitive firm's short run total cost function is given by TC=q-16q+100q+120 Calculate the profit maximizing output and the resulting profit when price is $30.

A competitive firm's short run total cost function is given by TC=q³-16q²+100q+120
Calculate the profit maximizing output and the resulting profit when price is $30.
Calculate the profit maximizing output and the resulting profit when price is $80.

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