Consider a firm manufacturing a single product that is exclusive and not produced by rival companies. The market demand for a product is Q = 400 -
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Question

Consider a firm manufacturing a single product that is exclusive and

not produced by rival companies. The market demand for a product is Q = 400 - 0,5p, where p is its price, Q - the output volume. The company employs technology that ensures total costs equal to 20 + 8Q2. What price will the company charge to maximize its profits? Explain your answers!

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Step-by-step explanation

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