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Suppose the return and cost of entrepreneurship curves are described by the following equations (with numbers measured in the thousands): R =550 - 50N C
Suppose the return and cost of entrepreneurship curves are described by the following equations (with numbers measured in the thousands): R =550 - 50N C = 50, where R = returns to entrepreneurship, C = cost of entrepreneurship, and /= number of entrepreneurs. The equilibrium number of entrepreneurs is N= thousand. (Round your response to two decimal places.) The equilibrium cost of entrepreneurship is C = $ thousand. (Round your response to two decimal places.) Suppose the country's government begins providing a court system to provide legal backup of contracts, increasing the return to entrepreneurship by $100 thousand for each entrepreneur. The equilibrium number of entrepreneurs is N= thousand. (Round your response to two decimal places.) The equilibrium returns to entrepreneurship is R = $ thousand. (Round your response to two decimal places.)
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