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here have 5 quesions, i hope have some professor can help me resolve this question. Question 4 - Pirate Beer (40 Points) You are the

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here have 5 quesions, i hope have some professor can help me resolve this question.

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Question 4 - Pirate Beer (40 Points) You are the owner of a high-end brewery producing an extraordinary beer called Pirate Beer. There are no barriers to entry in the beer market. Not only that, but unfortunately you accidentally posted the "magic sauce" that makes your beer extraordinary on your company website, and now everyone knows how to brew your beer. That's a bit of karma though, because you originally got the recipe for the magic sauce from some other brewer who accidentally sent it to you (nothing unethical happened though, because he told you that you could use the recipe). Luckily your favorite economics class has proven useful once again and has enlightened you with the following information to guide you: Q' = 3,500 - 4P Q' = 120P TC= 4Q2 - 10Q + 42 MC= 5Q - 10 Where QD is the total market demand for beer, QS the total market supply for beer, TC your firm's total cost function and MC your firm's marginal cost function. A. (5 points) Find the market equilibrium price and quantity.B. (15 points) Find the output your firm supplies and the total profit/ loss you make.C. (5 points) Find the number of firms that are active in the industry at market equilibrium.D. (5 points) Calculate the price below which you will not produce any output in the long-run.E. (10 points) What would you expect to see in the industry in the long-run? Why

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