Assume a competitive industry is initially at its long-run equilibrium, given the inverse market demand and supply functions: P=25000−0.2Qd and p=5000+0.3Qs If all current firms in this market have identical cost structures and produce 50 units at their break-even point: a) How many firms operate in this market at this point?  b) What is the profit maximizing quantity produced by each competitive fir

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