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Suppose a single firm produces all of the output in a contestable market. Analysts determine that the market inverse demand function is P= 400 -4Q,

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Suppose a single firm produces all of the output in a contestable market. Analysts determine that the market inverse demand function is P= 400 -4Q, and the firm's cost function is C(Q) = 10Q. Determine the firm's equilibrium price and corresponding profits. Price: $ Profits: $

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