=+*11. Suppose that a competitive firm has a total cost function C(q) 5 450 1 15q 1

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=+*11. Suppose that a competitive firm has a total cost function C(q) 5 450 1 15q 1 2q2 and a marginal cost function MC(q) 5 15 1 4q. If the market price is P 5 $115 per unit, find the level of output produced by the firm. Find the level of profit and the level of producer surplus.

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