Multiple Choice
If a representative firm with long-run total cost given by TC = 50 + 2q + 2q2 operates in a competitive industry where the market demand is given by QD = 1,410 - 40P,in the long-run equilibrium there will be:
A) 60 firms.
B) 98 firms.
C) 106 firms.
D) 110 firms.
E) 120 firms.
Correct Answer:
Verified
Correct Answer:
Verified
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