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Afirm operates in a perfectly competitive industry. Suppose it has a short run total cost function given by c(q) = 10,000+ 0.049. If the market

Afirm operates in a perfectly competitive industry. Suppose it has a short run total cost function given by c(q) = 10,000+ 0.049". If the market price is $56, find the firm's profit-maximizing level of production and calculate their profits.

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