How many units are sold in this market

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Reference no: EM13152272

In the short-run, firms' fixed costs (FC) are $160 and their variable costs (VC) are $22q+ 0.1q2. Suppose the inverse demand for an industry was given by P = 60 - 0.03Q.

1. What price results from perfect competition in this market?

2. How many units are sold in this market?

3. How many firms operate in this market?

Reference no: EM13152272

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