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4. Jen sells dog food in a competitive market. Her competitive firm maximizes profits (P) when Max P = TR(q) - TC(q). Let q =

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4. Jen sells dog food in a competitive market. Her competitive firm maximizes profits (P) when Max P = TR(q) - TC(q). Let q = number of bags of dog food sold at market price $15.00. Her short run total cost STC=125 + 49 + 0.04q2 Her short run marginal cost SMC = 4 + 0.08q 4a. Calculate how many bags of dog food will be produced. 4b. Calculate the profits. 4c. Calculate the price for which she will shut down her business

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