Question: Market demand is given as QD = 220 - 3P. Market supply is given as QS = 3P + 40. Each identical firm has MC

Market demand is given as QD = 220 - 3P. Market supply is given as QS = 3P + 40. Each identical firm has MC = 0.3Q and ATC = 0.2Q. What is a firm's profit?

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