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Each firm in a competitive market has a cost function of: C=49 +q, so its marginal cost function is MC = 2q. The market demand
Each firm in a competitive market has a cost function of: C=49 +q, so its marginal cost function is MC = 2q. The market demand function is Q =42 - P. Determine the long-run equilibrium price, quantity per firm, market quantity, and number of firms. The output per firm is (round your answer to the nearest integer)
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