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Suppose a firm operates in a perfectly competitive market. Suppose P=20 and MC=5Q. What is the optimal Q? Answer the right answer: 1) 5 2)

Suppose a firm operates in a perfectly competitive market. Suppose P=20 and MC=5Q. What is the optimal Q? Answer the right answer:

1) 5

2) 4

3) We don't have enough information to be sure, because of the shutdown condition

4) 10

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