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In a competitive industry with identical firms, equilibrium is characterized by O P = MC O P = MR O Q= MC O P =

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In a competitive industry with identical firms, equilibrium is characterized by O P = MC O P = MR O Q= MC O P = AVC Question 2 1 pts A monopoly that faces inverse demand of P = 230 - 20Q. Total cost is C = 5 + 30Q. The profit-maximizing output is O 10 0 5 0 4 O 20

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