You are the manager of a monopolistically competitive firm, and your demand and cost        functions are given by Q = 36 – 4P and C(Q) = 124 – 16Q + Q2.             [NOTE à MC(Q) = -16+2Q] a) Find the inverse demand function for your firm’s product. b) Determine the profit-maximizing level of production. c) Calculate your firm’s profits level. d) What long-term adjustments should you expect? Explain

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