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Finding out the profit maximizing price and output given the total revenue and total cost function.

A firm's total revenue is given by:     TR= 30Q - Q²
Its total cost function is given by:      TC= Q² + 10Q + 10
a)Find the profit maximizing output.
b)What price will the firm charge to maximize profits?
c)What are total profits?
d)Would a 50% tax on profits alter the firm's output? By what amount and why?

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Finding out the profit maximizing price and output given the total revenue and total cost | Solution Library Search