Maximum profit and the maximum profit

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Reference no: EM133077389

It is known that the average cost of production owned by a firm is AC = 4Q2-48Q + 400

While the company faces a demand P = 2000 + 6Q -8Q2 Based on these data, determine:

a. The amount of output that must be produced by the company to achieve the maximum profit and the maximum profit

b. The amount of marginal cost when MC is minimum

c. The average cost at the time of minimum AC.

Reference no: EM133077389

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