Calculate output-price and economic profit

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Reference no: EM13241312

P=54-1.5Q
MR=MTR/MQ=54-3Q
TC=200+6Q+0.5Q^2
MC=MTC/MQ=6+1Q
at profit max, Q=12 and P=36
calculate output, price and economic profit (show how you get there) and point price elasticity of demand.

Reference no: EM13241312

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