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Assume that a firm is a perfectly competitive industry has t

Paper help Economics Assume that a firm is a perfectly competitive industry has t

Economics

Assume that a firm is a perfectly competitive industry has t

Assume that a firm is a perfectly competitive industry has the following total cost schedule … Show more Assume that a firm is a perfectly competitive industry has the following total cost schedule Outputs (units) Total Cost ($) 10 $110 15 $150 20 $180 25 $225 30 $300 35 $385 40 $480 b. If the prevailing market price is $17 per unit, how many units will be produced and sold? What are the profits per unit? What are total profits? c)is the industry in a long-run equilibrium at this price? • Show less

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