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Consider the following - Market Demand: QD = 300 − 5P Market Supply: QS = 5P...

Consider the following - Market Demand: QD = 300 − 5P

Market Supply: QS = 5P

Total Cost: TC = 150 + q2

Marginal Cost: MC = 2q

  1. Solve for the profit maximizing output the perfectly competitive firm would produce.

  2. Solve for the maximum profits.

  3. Solve for the productively efficient output.

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