Business, 27.03.2020 20:31, melany682296

A perfectly competitive industry consists of many identical firms, each with a long-run average total cost of LATC = 800 – 10Q + 0.1Q2 and long-run marginal cost of LMC = 800 – 20Q + 0.3Q2. In long-run equilibrium, each firm produces a quantity of .

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A perfectly competitive industry consists of many identical firms, each with a long-run average tota...