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Identifying Profit-Maximizing Quantity of Output - Perfect Competition Page 1 of 2 Marginal Quantity Total Revenue Revenue Total Cost Marginal Cost Total Profit Marginal Profit

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Identifying Profit-Maximizing Quantity of Output - Perfect Competition Page 1 of 2 Marginal Quantity Total Revenue Revenue Total Cost Marginal Cost Total Profit Marginal Profit O O 5 -5 1 80 25 55 55 95 What quantity should the firm produce to maximize profit? What is the marginal revenue at the optimal quantity? What is the marginal cost at the optimal quantity? () What is the maximum profit? What price should the firm charge to maximize profit? () () () C)

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