Perfect competition has a total cost function

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Reference no: EM13982798

A firm in perfect competition has a Total Cost function of TC = 5Q^2 - 10Q + 20. If the current Price (P) = $5:

a) What is the current quantity and profit?

b) Will firms enter or leave the industry?

c) What will be the long run Price and Quantity?

Reference no: EM13982798

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