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graph this: Using side-by-side graphs, draw a market and firm for a perfectly competitive industry in long-run equilibrium. Show the effect of a lump-sum subsidy
graph this:
Using side-by-side graphs, draw a market and firm for a perfectly competitive industry in long-run equilibrium. Show the effect of a lump-sum subsidy on the firm in the short-run. Shade any profit or loss. Mark the old and new price and quantity for the firm Qf and Qf1.
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