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4. (20 total points) Suppose in the short run a perfectly competitive rm has variable cost = 3q2, and MC = 6q where q is
4. (20 total points) Suppose in the short run a perfectly competitive rm has variable cost = 3q2, and MC = 6q where q is the quantity of output produced. Also, the rm has xed cost F = 3000. a) (8 points) If the market price of the product is 180, how much output should the rm produce in order to maximize prot? b) (6 points) How much prot will this film make? c) (6 points] Given your answer to b), what will happen to the market price as we move from the short run to the long run
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