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= Each of the companies in a competitive industry presents the following production costs for the optimal dimension C(q) = 5q2 + 10 + 500.

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= Each of the companies in a competitive industry presents the following production costs for the optimal dimension C(q) = 5q2 + 10 + 500. Market demand is Q = 3,400-10P. (a) Calculate the equilibrium price, the output of the firm and the industry and the number of firms in the industry in the long-term equilibrium. b) If demand shifts to QQ = 3,928 10P, what impact will this demand change have on social welfare in the short term? c) Show in a graph the results of the previous sections for both the representative company and the industry

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