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In a perfectly competitive market, each firm has a long-run total cost given by LTC = 100Q - 10Q² + 1/2Q³. What is the market's long-run equilibrium price? 00 O 50 25 150 4

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Question

In a perfectly competitive market, each firm has a long-run total cost given by LTC = 100Q - 10Q² +
1/2Q³. What is the market's long-run equilibrium price?
00
O 50
O25
150
4

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