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Consider that there are 25 identical firms currently in this perfectly competitive market. The current market demand is:Quantity Demanded Price 220 45 205 55 190
Consider that there are 25 identical firms currently in this perfectly competitive market. The current market demand is:Quantity Demanded Price 220 45 205 55 190 65 175 75 160 85 145 95a) On a properly labeled graph, illustrate the market demand and industry supply, and determine the short run price, quantity and profit for the typical firm.
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