If a representative firm with long-run total cost given by TC = 50 + 2 q + 2 q 2

If a representative firm with long-run total cost given by TC = 50 + 2 q + 2 q 2 operates in a competitive industry where the short-run market demand and supply curves are given by QD = 1,410 – 40 P and QS = –390 + 20 P, its long-run profit-maximizing level of output is:


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