You are the manager of a firm that produces output in two plants

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15.You are the manager of a firm that sells its product in a competitive market at a price of$40. Your firm's cost function is C = 60 + 4Q2.The profit-maximizing output for your firm isa)4.b)5.c)10.d)15.Answer:BDifficulty:Med

16.You are the manager of a firm that sells its product in a competitive market at a price of$40. Your firm's cost function is C = 60 + 4Q2.Your firm's maximum profits areCDifficulty:Med

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17.You are the manager of a monopoly that faces a demand curve described by P = 85 - 5Q.Your costs are C = 20 + 5Q.The profit-maximizing output for your firm isDDifficulty:Med

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18.You are the manager of a monopoly that faces a demand curve described by P = 85 - 5Q.Your costs are C = 20 + 5Q.The profit-maximizing price isADifficulty:Med

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19.You are the manager of a monopoly that faces a demand curve described by P = 85 - 5Q.Your costs are C = 20 + 5Q. The revenuemaximizing output isa).85.b)9.c)10.d)none of the above.Answer:DDifficulty:Hard