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A perfectly competitive firm’s total cost function is given by: TC = 200+2Q2 . How much...

A perfectly competitive firm’s total cost function is given by: TC = 200+2Q2 . How much output does the firm produce in the long-run? What is the price of the product in the long-run?

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Ans. The firm will produce 10 units of product and the price of product is $40.

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