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1) A perfectly competitive firm has total revenue and total cost curves given by: TR = 100 TC =5,000 + 2Q+0.2 Q2 MR=100 MC-2+0.4Q a.

1) A perfectly competitive firm has total revenue and total cost curves given by: TR = 100 TC =5,000 + 2Q+0.2 Q2 MR=100 MC-2+0.4Q a. Find the profit-maximizing output for this firm. b. What profit does the firm make

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