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What is the equilibrium price in the market

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A perfectly competitive market is described by the demand curve QD = 60 - 2P, and the supply curve QS=5P-10. A typical firm in the market has the total cost equation C= 16 + 2QF + QF2

i. What is the equilibrium price in the market?

ii. What is the equilibrium quantity in the market?

iii. Compute the firm's total revenue.

Reference no: EM132548922

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