Posted by **kanwal** on Friday, October 15, 2010 at 2:23am.

2. Given a firmï¿½s demand function, P = 24 - 0.5Q and the average cost function, AC = Q2 ï¿½ 8Q + 36 + 3/Q, calculate the level of output Q which a) maximizes total revenue

b) maximizes profits

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