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Consider the perfectly competitive market with the demand function

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Consider the perfectly competitive market with the demand function Q(p)=1-p. Every firm has the cost function C(Q)=1/128 + Q^2/2.;A) What are the long run equilibrium price, quantity of a single firm and the industry output? How many firms are in the market?;b)What are the consumer surplus, producer surplus, and social welfare in the market?

 

Paper#28590 | Written in 18-Jul-2015

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