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Assume a firm with the following Demand Curve:         P = 601 Total Cost Curve:  ...

Assume a firm with the following

Demand Curve:         P = 601
Total Cost Curve:       TC = 4670 + Q + 0.01Q2

   •   What is the Profit-Maximizing Price and Quantity this firm will use? Show work
   •   Is the firm making a profit or a loss? Explain why
   •   Should the firm stay in business or quit immediately? Explain why

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