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Consider a firm that sells its product in a perfectly competitive market where the market price is $4.20 per unit. The firms in the market

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Consider a firm that sells its product in a perfectly competitive market where the market price is $4.20 per unit. The firms in the market have identical cost structures and the firm's cost structure is described by the following equations: TC = 40 + 0.1q2 - 0.2q MC = 0.2q - 0.2

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