Answer
A)
the market equilibrium is at Qd=Qs
120-P=4P
5P=120
P=24
the typical firm produces at MC=P
6Q=24
Q=4 units
each firm will produce 4 units
==
B)
ATC=3*4=$12
===
C)
Profit=(P-ATC)*Q
=(24-12)*4
=$48
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