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(4) Suppose the market for lawn mowing services is perfectly competitive. Mowing companies are identical. Their long-run cost functions are given by TC(Q) = Q3

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(4) Suppose the market for lawn mowing services is perfectly competitive. Mowing companies are identical. Their long-run cost functions are given by TC(Q) = Q3 -3Q2 + 90Q. Market demand is given by QD = 6,000 -P. Answer the following questions: (a) Find the long-run equilibrium price in this industry. (b) Use market demand to find the equilibrium total industry output. (c) Find the equilibrium number of firms

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