ECON 1508 Unit 5 DF - Suppose that a typical firm in a...

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Suppose that a typical firm in a monopolistically competitive industry faces a demand curve given by:q = 60 − (1/2)p, where q is quantity sold per week.The firm’s marginal cost curve is given by: MC = 60.1.How much will the firm produce in the short run? 2.What price will it charge?

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