Identify the initial equilibrium

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Assume a firm has just released a large advertising campaign that turns out to be highly successful. Assume the costs have already been included in the analysis. Explain what happens to the firm. Be sure to talk about equilibrium price and quantity for the firm, the number of firms in the market, and the firm profits after the campaign and in the long run. Identify the initial equilibrium.

Reference no: EM13985733

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