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Given the Market Demand Drawn in Panel B of the Figure

Question 79

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Given the market demand drawn in Panel B of the figure below and the cost structure for the typical firms shown in Panel A of the figure below, the long-run total output of the industry is 900 units. Given the market demand drawn in Panel B of the figure below and the cost structure for the typical firms shown in Panel A of the figure below, the long-run total output of the industry is 900 units.

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