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If the market price in a competitive market is $10, and a firm's marginal cost (MC)...

If the market price in a competitive market is $10, and a firm's marginal cost (MC) is given by MC = 0.50Q, where Q is units of output, this firm should produce 20 units of output to maximize profit.
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Answer #1

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the firm produces at marginal cost = price

0.5Q=10

Q=20

the profit maximizing output is 20 units

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