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(Solved): Suppose you are asked to analyze a competitive market with identical firms for the government. Inve ...




Suppose you are asked to analyze a competitive market with identical firms for the government.
Inverse market demand is: \( \
Suppose you are asked to analyze a competitive market with identical firms for the government. Inverse market demand is: \( \mathrm{p}=100-0.01 \mathrm{Q} \) Each firm's total cost function is: \( C(q)=500+0.20 q^{2} \) (b.) Assuming the industry is in long-run equilibrium, how many firms are currently in this market?


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Given C=500+0.20q2 ATC is given by ATC=Cq=500q+
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