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Please explain the steps of finding profit by individual firms per day in short run. The following information describes question 16. There are 500 identical
Please explain the steps of finding profit by individual firms per day in short run.
The following information describes question 16.
There are 500 identical firms in the industry in the short run.
The Demand curve of industry is equals to P= 44 - 0.004Q
Total Cost curve for a firm in short run is TC= 2q2 + 2q + 72
The firm has a fixed cost of $54.
An $12 tax is imposed on sellers.
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