Question: Hello, Thank you for your help. Please, do not take the answer from other sites. Thank you. Consider a monopolistic competitor with TC=100- 4QQ^. Suppose

Hello,

Thank you for your help. Please, do not take the answer from other sites. Thank you.

Consider a monopolistic competitor with TC=100- 4QQ^. Suppose that the demand for their version of the product is P=50-3Q.

  1. What quantity maximizes their profits?
  2. What price do they charge?
  3. What profits do they earn in the short run?
  4. What will happen to their profits in the long run?

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