For the following total-revenue and total-cost functions of a firm:
TR= 22Q - 0.5Q^2
TC= 1/3Q^3 - 8.5Q^2 + 50Q + 90
a.) determine the level of output at which the firm maximizes its total profit.
b.) determine the maximum profit the firm could earn
** please explain step by step. I am very confused as to work this problem.
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