Question: Assume the total cost function is TC 1/2Q 2 + 6Q + 7, 1- Explain how to identify Q level(s) that maximizes profit. (Hint: use

Assume the total cost function is TC 1/2Q2 + 6Q + 7,

1- Explain how to identify Q level(s) that maximizes profit. (Hint: use first and then Second order derivative on profit function, TR - TC)

2- Explain how to determine the profit using information from part (i).

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