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Question

Consider a perfectly competitive market having following Revenue and

cost function: price(p)=50Q-18+25/Q Total Cost TC=8Q+16 Calculate (a) Equilibrium Quantity (Qe) of the firm. (b) Total Revenue (TR) (c) Equilibrium price (Pe) (d) Total Cost (TC) (e) Profit (π) and Interpret your result (f) Marginal Revenue (MR)

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    Perfectly Competive firm calculations.jpg

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Subject: Business, Economics

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