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Ralph's Raisin Company operates in a perfectly competitive market in which the market price (P*) and the functions representing Ralph's fixed cost (FC), variable cost

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Ralph's Raisin Company operates in a perfectly competitive market in which the market price (P*) and the functions representing Ralph's fixed cost (FC), variable cost (VC), and marginal cost (MC) are: P*=2 FC = 5 VC = 0.1q2 MC = 0.2q where q is the output level. When Ralph's produces its profit-maximizing output level, its profit is: O -10 O -5 Oo 5 O 10

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