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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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Any type of water, be it in liquid or solid state, which descends from the sky and lands on the Earth's surface, such as rain, snow, sleet, and hail.

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Large herbivorous animals that feed primarily on grass and other low-lying vegetation.

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Regions characterized by light rainfall, usually between 10 and 20 inches per year, often resulting in scanty vegetation and a steppe climate.

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