Suppose you are the manager of a watchmaking firm operating in a competitive market. Your cost of production is given by: C= 200 + 2Q2, where Q is the level of output and C is the total cost. a) If the price of watches is $100, how many watches should you produce to maximize profits? b) What will be your profit level? c) At what minimum price will the firm produce a positive output?

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Q: our cost of production is given by

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Q: The last part of the question

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