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A firm's demand function is Q = 16 - P and its total cost function is defined as TC = 3 + Q + 0.25Q2. Use these two functions to form the firm's profit function and then determine the level of output that yields the profit maximum. What is the level of profit at the optimum?
P= 39-0.6Q
C=50+0.1Q^3
Quantity - 9.575835
Price - 33.2545
Revenue - 318.4396
Cost - 137.8072
Profit - 180.6324
Marg Revenue - 27.509
Marg Cost 27.50898
Marg Profit 1.37E-05
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