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5. In a competitive industry, all companies have identical long-run total cost curves given by LTC(q) = q + 36. The demand in

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I Goln LIÇ (9) g2+36 D(P) = 2004 - 2p. Long Rein profit maximization a Condition asu be a = p = LA C=Lmc LAC = linic LAC - LTq2 = 36 16. trencin Jong Rein P-AC = mc i AC = 12 lenie price is equal to 12 -TPL2 D/P = 2004-2P - D (P) = 2004 - 2(12) z 200Hence no. of fim is 330. Long Rin Supply fention I y Patel SP = 4+* Riey epply CSScanned with CamScanner

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