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A firm sells its product in a perfectly competitive market where other firms charge a price of $130 per unit. The firm’s total costs are C(Q) = 40 + 10Q + 2Q2.
A. How much output should the firm produce in the short run...How many units?
B. What price should the firm charge in the short run? $?
C. What are the firm’s short-run profits? $?
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