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The industry currently consists of 20 producers , all of whom operate with the identical short-run total cost curve STC(Q)= 16+Q 2 , where Q
The industry currently consists of 20 producers, all of whom operate with the identical short-run total cost curve STC(Q)= 16+Q2, where Q is the annual output of a firm. The market demand curve is D(P) =110- P, where P is the market price.
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