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e. Now assume that there are 1,500 identical firms in this competitive industry. That is, there are 1,500 firms, each of which has the cost

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e. Now assume that there are 1,500 identical firms in this competitive industry. That is, there are 1,500 firms, each of which has the cost data shown in the table. Complete the industry supply schedule (column 4 in the table above). f. Suppose the market demand data for the product are as follows: Total Quantity Price Demanded $ 24 17 , 000 29 15, 000 34 13, 500 41 12, 000 46 10, 500 51 9,500 56 8,000 What is the equilibrium price? $ What is the equilibrium output for the industry? units For each firm? units Instructions: Enter your answers rounded to two decimal places. Enter positive values for profit or loss

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