4db3059498ad4c450134049843a0ce7a_0695be460fcc36105e35523aee44daf5 - 1.:QD ==(q)=722(q2\/200istheFirm'stotalcostfunction. isgivenbyC(Q)=6q3q^2 q^3.

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1.Suppose you are given the following information about a particular industry: QD = 6500 100P is Market demand QS =1200P is Market supply C(q) = 722+ (q2)/200 is the Firm's total cost function. Suppose the long run total cost function  is given by C(Q)=6q-3q^2+q^3. What will the price be in long run equilibrium long run equilibrium in this industry? Is profit positive, negative, or zero? Explain. (note I think the wording of some the problem is an error) 2. A monopolist sells in two geographically divided markets, the east and the

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