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Consider a perfectly competitive market having following Revenue and cost function: Price (P) = 50Q 18 + 25/Q Total Cost (TC) = 8Q + 16 Calculate:-...
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Consider a perfectly competitive market having following Revenue and

cost function: Price (P) = 50Q −18 + 25/Q Total Cost (TC) = 8Q + 16 Calculate:- (i) Equilibrium Quantity (Qe) of the firm. (ii) Total Revenue (TR) (iii) Equilibrium price (Pe) (iv) Total Cost (TC) (v) Profit (π) and Interpret your result (vi) Marginal Revenue (MR)

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Subject: Business, Economics

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