leabarnes8988 leabarnes8988

22-11-2022
Business

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Suppose there is free entry in the market for microphones. The demand for microphones is given by: QD= 2779 -7P. All firms that produce microphones have identical long run average total cost functions given by: ATC = 3528/q + 7 + 8q.

Calculate the long run number of firms in this market.

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