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Question 2 (15 Total Marks) The Perfectly Competitive Firm in the Long Run Suppose the firm has the following Total Cost Function: TC=125q;-10q,+9; a) What

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Question 2 (15 Total Marks) The Perfectly Competitive Firm in the Long Run Suppose the firm has the following Total Cost Function: TC=125q;-10q,+9; a) What will be the profit maximizing firm's output in the long run? (4 marks) b) What price will the firm charge? (3 marks) c) What will be the firm's profit and why? (2 marks)

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