Price-taking firm has a short run cost function

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A price-taking firm has a short run cost function SC(q) = 3q^2 + 18q + 600

Calculate the profit for this firm if the price is P = 72. Using either an integral or geometry, calculate the producer surplus for the firm at P = 72. Explain how the Producer surplus is related to the profit number.

Reference no: EM131076039

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