Qthe long-run average cost curve for a firm in an industry, Ask an Expert

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Q. The long-run average cost curve for a firm in an industry is:

ATC = 10Q2 - 50Q + 100, as well as its marginal cost is:
MC = 30Q2 - 100Q + 100.

Market Demand as well as is given by:

Qd = 9000 - 200Pmkt

a) In the long-run equilibrium, how much will each firm produce?

b) What is the market equilibrium cost?

c) What is the equilibrium number of firms in the market?

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Business Economics, Economics

Category:- Business Economics
Reference No.:- M9723115

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