(1) The ABC Corporation is the only producer of a particular type of laser. The demand curve for its product is Q=176 - 2P and its cost function is TC = 4Q +2Q², where P is price, TC is total cost and Q is monthly output. (a) If the firm charges the same price to all the consumers, then what is the profit-maximizing quantity? (b) If the firm were to exercise the first-degree price discrimination, then how much output would it produce?
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