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Formula to find profit maximizing price in long run

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Reference no: EM132130063

If we know FC, MC, Profit and Quantity, why to find profit maximizing price in short run we use formula

Profit=(P-MC)Q ? How can I can come up with this formula?

Profit=TR-TC, how from this formula we get the one above?

Is there any other formula to find profit maximizing price in long run?

Reference no: EM132130063

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