Wheel Co. Ltd, operating in a competitive industry has a cost function: TC=5+13Q2 - 3Q. This firm can sell whatever output it produces at $18. a. Calculate the level of output that maximizes the company's profit and calculate the profit earned! b. How is the managerial decision, whether to produce or not? (explain using numbers) c. At what selling price, is it said that the company must close its business?

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