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Consider a perfectly competitive market in which 15 identical firms each have a marginal cost function given by: MC(q)=9q. If the market price is 900,

Consider a perfectly competitive market in which 15 identical firms each have a

marginal cost function given by: MC(q)=9q. If the market price is 900, calculate the following:

1. The profit-maximizing quantity of each firm

2. The market quantity

3. The market producer surplus

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