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Consider an HMO with a demand curve of the following form: Q=100-2P. Suppose that its marginal and average costs were $20. If the firm maximizes profits, determine its price, output, and profits. If the firm must act as a perfect competitor, in the long run what will happen to equilibrium price and equilibrium output?

Microeconomics, Economics

  • Category:- Microeconomics
  • Reference No.:- M91233340

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