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If a Representative Firm with Total Cost Given by TC

Question 20

Multiple Choice

If a representative firm with total cost given by TC = 20 + 20q + 5q2 operates in a competitive industry where the short-run market demand and supply curves are given by QD = 1,400 - 40P and QS = -400 + 20P,the number of firms operating in the short run will be:


A) 100.
B) 140.
C) 200.
D) 280.
E) 240.

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