Given that a perfectly competitive firm incurs TC=200+Q2-40Q and market demand is equal to P=3000-10Qd and market supply is equal to P=1000+4Qs where Qd and Qs are quantity demand and quantity supply respectively .Then a)  What is the profit maximizing level of output,equilibrium level of price and MR of the firm b)   What is the maximum profit at equilibrium level and Draw the graph showing the equilibrium level c)  Is the firm at short run or long run? How do you know

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