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QUESTION
If the market quantity demanded and quantity supplied functions are: Q D = 242 - 3P Q S = 64 + 9P and the firm's marginal cost function is:
If the market quantity demanded and quantity supplied functions are:
QD = 242 - 3P
QS = 64 + 9P
and the firm's marginal cost function is:
MC = 2 + 4q
Assuming there are no costs other than marginal cost, what will be the profits of this firm?
ROUND TO THE NEAREST CENT
