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Competitive industry with long-run economic costs

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Reference no: EM131267065

The treadmill market is a competitive industry with long-run economic costs. Provided the following information, what is the long-run equilibrium price in this industry?

CLR(q)=32+2q2

MC = 4q

Avg. Cost = 32/q+2q.

Reference no: EM131267065

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