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Economic The diagram below The diagram below illustrates a competitive firm's cost curves. and the supply and demand diagram tor the industry. Assume that all

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Economic

The diagram below

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The diagram below illustrates a competitive firm's cost curves. and the supply and demand diagram tor the industry. Assume that all firms in the industry have identical cost curves. 5 [Short Run} 260 300 455 560 Q Where P is in $ and Q is the number of units. And x: 67, y: 28 and 2:15. If demand increases from D1 to D2, then. in the long run, the price in this market will be? The result should be an integer number, no decimals {ex-z. if the result is 3.65. write 4.1

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