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I am studying for my upcoming test and need help finding the correct answer with the work given. Thank you :) 7) Assume TC(q) =

I am studying for my upcoming test and need help finding the correct answer with the work given. Thank you :)

7) Assume TC(q) = 1000+ 5q3. a. Derive the short-run supply curve. (8 points) b. Derive the long-run supply curve. (10 points) c. Assume Market price P=$700. Find the quantity produced and profit of the firm. (6 points)

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