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Profit- maximizing price and output levels

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What are the profit- maximizing price and output levels? It's demand curve for the product is expressed as Q= 5000- 25P where Q is the number of vacuum cleaners per year and P is in dollars. Cost estimation processes have determined that the firm's cost function is represented by TC= 1500 + 20Q+ 0.02Q2. Explain and plot in algebraic ally for equilibrium P (price) and Q (output).

Reference no: EM131554956

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