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Questions 1 and 2 rely on the following information: Firm A operates in a perfectly competitive industry with market price of output, P = $300/unit.

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Questions 1 and 2 rely on the following information: Firm A operates in a perfectly competitive industry with market price of output, P = $300/unit. Firm A's total cost given by TC(q) = q3 + 1200. 1. What is Firm A's prot maximizing output level? 2. How much prot is Firm A currently earning given this price and output level (from #1)

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