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The supply of a perfectly competitive firm is given by QS=P-60. There are 500 identical firms. Each firm's costs are given by TC 250+600+0.502 and

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The supply of a perfectly competitive firm is given by QS=P-60. There are 500 identical firms. Each firm's costs are given by TC 250+600+0.502 and MC= 60+Q. If equilibrium price in the market is $80, how much profit (r) does each firm make in the short run? -$150 $100 $50 $1,600 0 $50 0 $0

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