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All firms in a competitive market have the following total

All firms in a competitive market have the following total cost function: TC = 0.5Q3- 12.5Q2+ 125Q + 3200 The market demand and supply functions are given by Qmd = 16500 - 60P , Qms = -3500 + 40P

(a) What is a typical firm's optimal level of output?

(b) What is the firm's profit or loss?

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Microeconomics: All firms in a competitive market have the following total

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