Business, 22.04.2020 01:14, yarrito20011307

The long-run supply curve for a product is horizontal with ATC = 200. Market demand is defined as P = 1,000 − 4 Q. The market is competitive and is in long-run equilibrium with 50 firms in the industry. If demand increases to P = 1,240 − 4 Q, how many firms will be in the industry at the new long-run equilibrium?

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The long-run supply curve for a product is horizontal with ATC = 200. Market demand is defined as P...