=+B. In the following, all dollar values are expressed in thousands of dollars. Suppose that the total

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=+B. In the following, all dollar values are expressed in thousands of dollars. Suppose that the total citywide demand function for private school seats x is given by x1p2 5 24,710 2 2,500p and each private school’s average long-run cost function is given by AC1x2 5 0.655x 1/3 1 1900/x2.

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