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Determine the range of prices

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Reference no: EM131605540

A competitive firm's short run total cost function is given by TC = Q^2 + 40 Q + 81

(a) Determine the range of prices for which the firm incurs a loss but continues to produce. Also determine the range of prices for which the firm earns a profit.

(b) Calculate the profit maximizing output and the resulting profit when price is $100.

Reference no: EM131605540

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