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A demand equation is Q = 270 - P.Total Cost is described by the function TC = 30 + 9Q. 

  • MR is described by the function 270 - 2Q. 
  • MC is constant at $9. 

(Note that P = price, Q = quantity, MR = marginal revenue and MC = marginal cost.)

Calculate the profit (or loss) at the profit maximizing quantity.  Please ensure that you show detailed calculations. 

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Subject: Business, Economics

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