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Question 1

a)

Suppose that all existing firms in a long-run competitive market equilibrium are identical and have the following cost functib)

Question 6 (1 point) Saved Suppose that in a perfectly competitive market, demand and supply are given by QD = 100 – bP QS =

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Answer #1

of clo) = Ato? A = 150 Me=20 C(O)= 150t02 5o = - 0 ² 150 0=122484 ACE 150 212 2484 24.4948 2.244 6) = 24.4948 a=100-1.50 Os=P

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