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The long-run supply curve for a product is horizontal with ATC =
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The long-run supply curve for a product is horizontal with ATC = 200. Market demand is defined as P = 1,000 - 5Q. The market is competitive and is in long-run equilibrium with 40 firms in the industry. If a $50 tax is imposed on sellers, how many firms will be in the industry at the new long-run equilibrium?

 







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This question was answered on: Feb 21, 2020

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