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Hello, can you please help me with this micro question. Thank you and much appreciated! Long-run Consumer Surplus. A perfectly competitive market is in its
Hello, can you please help me with this micro question. Thank you and much appreciated!
Long-run Consumer Surplus. A perfectly competitive market is in its long-run equilibrium. There are 200 identical firms in this market that each face cost functions of: C(q) = 5q2 + 960q + 3380. The inverse market demand curve is estimated to be: P(Q) = 6420 -1Q. What is the longrun consumer surplus in this market? The long-run consumer surplus is $1. (Round your answer to the nearest whole number)Step by Step Solution
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