COURSE: ECONOMY A company has a total cost function TC = 80+3q+2q2 and a marginal cost function MC = 3+4q. If market price is P = $30 and it is producing 10 units: (a) Is firm maximizing its profits? b) What quantity should it produce in long run? Hint: MC= ATC c) Construct a table with all costs. d) Plot profit maximization points in short and long run.

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