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Compute the firm profit for the output levels

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Reference no: EM131281714

Suppose a firm assesses its profit function as:

X=profit

X= -10-48Q+15Q^2-Q^3

a.) Compute the firm's profit for the output levels of (Q=2, 8, 14)

b.) Drive an expression for the marginal profit.

c.) Compute marginal profit at Q=2, 8, 14.

d.) Confirm that profit is maximized at Q=8, and not Q=2

Reference no: EM131281714

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