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4. Suppose there are 1,000 tofu (bean curd) stands operating in Taipei City. Each stand has the usual U-shaped average-total-cost curve. The market demand curve

4. Suppose there are 1,000 tofu (bean curd) stands operating in Taipei City. Each stand has the usual U-shaped average-total-cost curve. The market demand curve for tofu slopes downward, and the market for tofu is in long-run competitive equilibrium

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