Determining the long-run equilibrium price, Macroeconomics

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Determining the long-run equilibrium price

The cheese business in Taranaki is a competitive industry. All cheese manufacturers have the cost function C = Q2 + 9, while demand for cheese in the region is given by Qd = 120 - P.

What is the long-run equilibrium price in this industry?

What is the long-run equilibrium quantity in this industry?

What is the long-run equilibrium number of firms in this industry?

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Macroeconomics: Determining the long-run equilibrium price

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Macroeconomics: Determining the long-run equilibrium price

Reference No:- TGS067012

Have a Question? (oR Write a Review)

Recent Questions Asked Macroeconomics

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Macroeconomics: Determining the long-run equilibrium price

Reference No:- TGS067012

Recent Questions Asked Macroeconomics

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