Economics.... Profit maximising question?

M

Maria D

New member
A firm produces at a constant average & marginal cost equal to £10...
Assume the market demand curve is P=60-Q
Find the profit maximising price & Quantity
Calculate the firms profits.
Calculate the PED at the profit maximising price and comment on your answer.
Calculate the deadweight welfare loss

Could someone please help with this question as I have no idea of working it out.

Thanks in advance! :)
 
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