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Help! Question is attached! Thanks! 2. Consider potato farming in the US, a highly competitive market. Assume the market is perfectly competitive, and that the

Help! Question is attached! Thanks!

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2. Consider potato farming in the US, a highly competitive market. Assume the market is perfectly competitive, and that the market demand for potatoes is given by Q = 120 - 10P and market supply is given by Q' = 84 + 2P. a. Find the competitive equilibrium price and quantity of potatoes in this market. b. Assume that one particular farmer, Joe, knows that his cost function is given by: c(q) = 1+ q+0.1q2 Find Joe's profit-maximizing level of output, and calculate the profits he makes. c. What if the price doubles? Now how much would Joe want to produce to maximize profits? What are his profits now

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