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We are given that the total costs of producing quantity in the long-run, for the individual firm, are: () = 37 2 2 + 0.04
We are given that the total costs of producing quantity in the long-run, for the individual firm, are: () = 37 2 2 + 0.04 3 . The market demand is given by: () = 27000 800. Find the long-run equilibrium (price, quantity produced by the individual firm, total quantity sold in the market, and the number of identical firms).
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