Find the marginal revenue and marginal cost functions

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Reference no: EM133582930

Question: a) Suppose a firm has the following total cost function TC = 100 + 2q2 .

i) If price equals $20, what is the firm's output decision?

ii) What are its short-run profits?

b) A monopolist has TC =100+10Q+ 2Q2 , and the demand curve it faces is p =90-2Q.

i) Find the marginal revenue and marginal cost functions.

ii) What will be the price, quantity for profit maximization? iii) Calculate the profit for this firm.

Reference no: EM133582930

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