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Assume a firm's short-run total cost function is             STC = (1/3)q3 – 4q2 + 22q...

Assume a firm's short-run total cost function is

            STC = (1/3)q3 – 4q2 + 22q + 100.

      a.   Determine the output level at which it maximizes profits if p = 10.

            b.         Is the firm earning a pure profit, normal profit or operating at a loss?

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