Long run equilibrium price if market was competitive

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The average total cost of a monopolistic firm is AT C = 80/Q + 20Q. The firm is facing the demand function given by P = 6000 − 20Q. a) What will be the total profit that this firm will generate if it chooses price and quantity optimally?(Profit=224920) b) What would be the profit of this firm if it behaved competitively? (Profit=199920) c) What would be the long run equilibrium price if this market was competitive? (80)

Reference no: EM131091929

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