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Consider an industry with 100 identical firms. Each firm acts as a price taker and each has a cost function given by TC=200 + 4q

Consider an industry with 100 identical firms. Each firm acts as a price taker and each has a cost function given by TC=200 + 4q +2q^2. Suppose that demand in this market is given by Q subscript D= 800-5p.

In the short run, what are the equilibrium price and quantity? What are the CS and PS?

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