Estimate profit maximizing quantity, price and profits

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Reference no: EM1372086

A company has the following short run demand and cost schedule for a particular product; Q=100+2P and Total Cost (TC)=200+2Q.

a. Estimate the firm's profit-maximizing Quantity Q, Price P, and economic profits or losses.

b. If this firm operates in a monopolistically competitive market, what will happen in the long-run to Q, P and profits?

c. What are two strategies that you would implement to increase your profits?

Reference no: EM1372086

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