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What price should the manager of this firm put on its

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The cost function for Lilac Ltd.is given by TC = 500 + Q^2. It sells output in a perfectly competitive market and other firms in the industry sell at a price of $100.

1. What price should the manager of this firm put on its product?

2. What level of output should be produced to maximize profits?

Reference no: EM13327434

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