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How much will the firm produce in the short run

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Reference no: EM131414305

Suppose that a typical firm in a monopolistically competitive industry faces a demand curve given by:

q = 60 - (1/2)p, where q is quantity sold per week.

The firm's marginal cost curve is given by: MC = 60.

  1. How much will the firm produce in the short run? 
  2. What price will it charge?

Reference no: EM131414305

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