A monopolistically competitive firm has a demand curve given by p = 45 - 2q. The firm
Question:
The slope of the LAC curve is -4+0.1q.
a. what output will this firm produce in the long-run equilibrium?
b. What price will the firm charge for this output?
c. Prove that the firm is breaking even at this output.
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Step by Step Answer:
Quantity can be obtained by equating MR and MC MR 45 4q ...View the full answer
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Related Book For 
Microeconomics A Contemporary Introduction
ISBN: 978-1111415921
9th edition
Authors: William A. McEachern
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