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Suppose there are ten firms in a monopolistically competitive industry, each with an equal share of the market. The market demand is given as Q = 10200 – P. Each firm has a total cost function TC = 51000 + 500q2. Assuming the industry is in long-run equilibrium, what level of output does each firm produce and what price does each firm charge?

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Business Economics, Economics

Category:- Business Economics
Reference No.:- M92201793

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