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(Q4 - 20pts) Suppose a representative firm's long-run total cost (LTC) curve is given LTC = Q3 - 20Q2 + 1050, and the long-run marginal

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(Q4 - 20pts) Suppose a representative firm's long-run total cost (LTC) curve is given LTC = Q3 - 20Q2 + 1050, and the long-run marginal cost curve is given LMC = 302 -40Q + 105, where O is output. The industry is in a long-run equilibrium. (A - 8pts) What is the size of each firm in this industry? Lan (B - 8pts) Graph the long-run supply curve of this industry, calculate and mark its vertical intercept, and label it SLR? : The costs whouse of allowed For work. There an blnow sentw and (C - 4pts) Suppose the demand curve for this industry is given Q = 200 - 20P, how many firms are in the industry in equilibrium

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