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24-05-2023
Business

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1. The market inverse demand curve is P = 85 - Q. There are two firms in the market and each has the cost function TC₁ = 20 + q; + q.². a. Determine the profit-maximizing output and market price. Assume both firms move simultaneously. q1=16.8 92=16.8 P=51.40 Profit1=544.48 Profit2=544.48

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