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Suppose that there are 80 firms in a market, each with the following cost function: C(q) = 33 + 4q2. Suppose the market demand is
Suppose that there are 80 firms in a market, each with the following cost function:
C(q) = 33 + 4q2.
Suppose the market demand is
D(p) = 1,280 - 26p
How much profit does each firm make in the short-run equilibrium?
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