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a. A perfectly competitive firm has the following long-run total cost function: LRTC = (1/3)0.3 18C:2 + 1200. What level of output will this firm

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a. A perfectly competitive firm has the following long-run total cost function: LRTC = (1/3)0.3 18C:2 + 1200. What level of output will this firm produce in the long-run? If there are 1,000 firms in the industry, determine the total industry output when it is at a long-run competitive equilibrium

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