Determine the long run equilibrium price-number of firms

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Reference no: EM13184654

Each firm in a competitive market has a cost function of

\(C=q+q^{2}+q^{3}\)

The market demand function is Q = 24 - p. Determine the long run equilibrium price, quantity per firm, market quantity, and number of firms.

Reference no: EM13184654

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