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need answer typing clear urjent no chatgpt plz 3. Suppose a monopolistically competitive firm’s demand is given by P = 4,000 – 2Q And its cost function is given by TC = 5 + 40Q a. Find the profit maximizing quantity, price, and total profit level. b. If the firm is regulated to charge Price = Marginal Cost, calculate how much profit it will make.

need answer typing clear urjent no chatgpt plz 3. Suppose a monopolistically competitive firm’s demand is given by P = 4,000 – 2Q And its cost function is given by TC = 5 + 40Q a. Find the profit maximizing quantity, price, and total profit level. b. If the firm is regulated to charge Price = Marginal Cost, calculate how much profit it will make.

Practical Management Science
Practical Management Science
6th Edition
ISBN:9781337406659
Author:WINSTON, Wayne L.
Publisher:WINSTON, Wayne L.
Chapter2: Introduction To Spreadsheet Modeling
Section: Chapter Questions
Problem 20P: Julie James is opening a lemonade stand. She believes the fixed cost per week of running the stand...
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I need answer typing clear urjent no chatgpt plz 3. Suppose a monopolistically competitive firm’s demand is given by P = 4,000 – 2Q And its cost function is given by TC = 5 + 40Q a. Find the profit maximizing quantity, price, and total profit level. b. If the firm is regulated to charge Price = Marginal Cost, calculate how much profit it will make.
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