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Problem 4 (10 marks) Suppose the market consist of 300 identical firms, and the market demand is given by Q = 60 - P .

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Problem 4 (10 marks) Suppose the market consist of 300 identical firms, and the market demand is given by Q = 60 - P . Each firm has a short run total cost curve STC = 0.1 + 150Q2. 1) What is the short run equilibrium price in this market? 2) What is the profit maximizing quantity for each firm

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