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uestion 2 Consider the following setup for a perfectly competitive market: Suppose that for the firm, TC = 2500 + cQ + Q2, and MC

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uestion 2 Consider the following setup for a perfectly competitive market: Suppose that for the firm, TC = 2500 + cQ + Q2, and MC = c + 2Q, where the term c > 0 can be interpreted as some extra business cost, such as a tax, or the price of an input cost such as fuel. For the corresponding market, suppose that demand is given by P = 220 - Q and supply is given by P =

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