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Fill in the blanks below Assume the following regarding a firm in Perfect Competition: Market Demand = Qd = 570 - 5 P Market Supply

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Assume the following regarding a firm in Perfect Competition: Market Demand = Qd = 570 - 5 P Market Supply = Qs = 11 P Each identical firm has: MC = 5 q ATC = 22 1. What price will the firm charge?_ 2. What is the firm's equilibrium quantity? 3. What is the firm's total cost?_ 4. What is the firm's total revenue? 5. What is the firm's profit or loss? 6. Is the firm in a short-run or long-run situation

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