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The market for blueberries is perfectly competitive and is in a long-run equilibrium. Each rm's long-run average cost is minimized at $3.00 per pint of
The market for blueberries is perfectly competitive and is in a long-run equilibrium. Each rm's long-run average cost is minimized at $3.00 per pint of blueberries and a quantity of 1000 pints. The market demand for a pint of blueberries is: Q = 10,000 - 500P where P is the price in dollars and Q is a pint of blueberries. Assume all rms in the market have the same costs and that these costs are the same in the short-run and long-run. What is the total amount currently spent by all consumers in the market? O$0 0 $1,500 0 $8,500 0 $25,500 C) More information is needed to solve the
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