Consider the following setup for a perfectly competitive market: Suppose that for the firm, TC=400+ Q-, and MC =20. For the corresponding market, suppose that
Consider the following setup for a perfectly competitive market: Suppose that for the firm, TC=400+ Q-, and MC =20. For the corresponding market, suppose that demand is given by P = 200- 1 - Q and supply is given by P = = Q 1 N Calculate the firm's profits. O 4200 O -2100 O 2100 O -4200
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