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Question: A firm faces the following demand curve: P = 120-0.20 * Q, and MR = 120 0.01 * Q. The firm's cost function T_C = 60 * Q + 25,000; MC = 60 (it is constant over all levels of output. If the firm maximizes profit, what is the level of production, price, and total profits. The response must be typed, single spaced, must be in times new roman font (size 12) and must follow the APA format.
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