Question: 11. The demand function for a good is given by the equation P=50-20, while total cost is given by TC = 160 + 20 (a).

11. The demand function for a good is given by the equation P=50-20, while total cost is given by TC = 160 + 20 (a). Write down the equation for the profit. Find the value of Q when the firm breaks even. (c). Determine the maximum profit and the value of output (Q) at which profit is maximum. [1+1+0.5=2.5) (b)

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