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Question: A number of perfectly competitive stores offer film developing as a service to their customers. Suppose that each store offering this service has a cost function C(q)=98+2q+2q^2 and a marginal cost MC(q)=2+4q. The long run market demand for developing a roll of film is given by Qd(P) = 9,194 - 40P. Compute the total number of firms that will produce in the long run equilibrium. Please show steps how you get an answer and please be clear in your explanation.

Macroeconomics, Economics

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