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Each of the 10 rms in a competitive market (in practice we would think that a competitive market must have many more rms) has a
Each of the 10 rms in a competitive market (in practice we would think that a competitive market must have many more rms) has a cost function T C (q) = 9 q2. the market demand function is Q = 124 P , where Q is the total quantity sold in the market and P is the market price. (a) What is the equilibrium price, quantity per rm, market quantity, and level of prot per rm? Is this a short-run or long-run analysis and how do you know
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