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Pls explain. thank you Consider an individual, perfectly competitive company whose total cost function is given by the equation: TC = 4000 + 5Q +

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Pls explain. thank you

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Consider an individual, perfectly competitive company whose total cost function is given by the equation: TC = 4000 + 5Q + 10Q2 The expression for company's marginal cost: MC = 20Q + 5 Assume that industry - within which this company operates - is a constant-cost industry, and it is composed of many companies with costs identical to our company in question. Determine: a. this company's long-run level of output (masks and b. this industry's long-run equilibrium price (embarked Show all the steps of your work (e.g., step 1; step 2 etc.) and provide all necessary explanations

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