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Each Firm in a Perfectly Competitive Market Has Long Run AC(q)=A C ( q ) =

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Each firm in a perfectly competitive market has long run average cost represented as AC(q) =A C ( q ) = 100q10+100/q100 q - 10 + 100 / q . Long run marginal cost is MC=200q10M C = 200 q - 10 . The market demand is Qd=21505PQ ^ { d } = 2150 - 5 P . Find the long run equilibrium output per firm, qq ^ { * } , the long run equilibrium price, PP ^ { * } , and the number of firms in the industry, nn ^ { * } .


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Nirvana

In Buddhism, it refers to an exalted condition where there is an absence of pain, craving, or self-identity, and the individual is liberated from karma's influence and the continual cycle of mortality and rebirth.

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Tantalus

A figure in Greek mythology who was punished in the afterlife by being made to stand in water that receded when he tried to drink and under a tree whose fruit always eluded his grasp.

Mythological

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