Determine profit-maximizing price and level of production

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Reference no: EM13182200

You are the manager of a monopolistically competitive firm, and your demand and cost functions are given by

Q = 36 - 4P and C(Q) = 124 - 16Q + Q2.

a. Find the inverse demand function for your firm's product. P = - Q

b. Determine the profit-maximizing price and level of production.

c. Calculate your firm's maximum profits.

Reference no: EM13182200

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