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Your team has given you the following information: P = 1, 200 − 50Q T C...

Your team has given you the following information: P = 1, 200 − 50Q T C = 600 + 100Q + 5Q 2 (a) What is the optimal quantity and price? (b) What is the profit at this level? (c) Graph the inverse demand, marginal revenue, and marginal cost curves. Show the optimal price and quantity on the graph. Remember to label properly.

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