(Answered) Perfectly competitive market

Economics

Question: Each firm in a perfectly competitive market has long run average cost represented asAC(q) = 100q- 10+100/q. Long run marginal cost isMC=200q-10. The market demand isQ^d = 2150-5P.Find the long run equilibrium output per firm,q*,the long run equilibrium price,P*, and the number of firms in the industry, n*. Provide justifications and citations for your responses.

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Macroeconomics, Economics

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