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Find the number of firms and output

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Problem: Given a perfectly competitive firm in its long run position find the price, level of output and overall profits of the company if it is known that its long run total costs are given by the following equation:

TC=500qi-20qi2+2qi3.

Output and Price:

Profits:

Find the number of firms and their output if the industry demand is given by: P=1800-2Q

Reference no: EM132415567

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