Determine profit-maximizing price and level of production

Reference no: EM13183388

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.

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

c. Calculate your firm's maximum profits.

Reference no: EM13183388

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