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For a perfectly competitive firm, long-run average cost is: LAC = 300 - 20Q F + .5QF 2 , where Q F denotes the firm's

For a perfectly competitive firm, long-run average cost is: LAC = 300 - 20QF+ .5QF2, where QFdenotes the firm's output. Determine the firm's long-run profit-maximizing output and price.

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