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4.4 Each firm in a competitive market has a cost function of C = q + q2 + 93. The market has an unlimited number

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4.4 Each firm in a competitive market has a cost function of C = q + q2 + 93. The market has an unlimited number of potential firms. The market demand function is Q = 24 - p. Determine the long-run equilibrium price, quantity per firm, mar- ket quantity, and number of firms. How do these values change if a tax of $1 per unit is collected from each firm? (Hint: See Solved Problem 8.4.) M

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