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What is the long-run free entry equilibrium per-firm

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Consider: C(y) = y^2+ 2y + 4. Many firms have access to this technology, in fact so many that there is not room for all to profitably operate in the industry. The market demand for the product is given by P = 30-Y , where Y is the market quantity. Entry and exit is costless and all firms are price takers.

Q: What is the long-run free entry equilibrium per-firm quantity produced by each firm in the industry? Explain

Reference no: EM132141705

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