Consider a competitive industry with several firms

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Consider a competitive industry with several firms all of which have the same cost function, c(y) = y² + 4 for y > 0 and c(0) = 0. The demand curve for this industry is D(p) = 50 − p, where p is the price. What is the long-run equilibrium number of firms in this industry? Please show all work.

Reference no: EM13981507

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