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This question was created from CH 7 Practice Problems II.docx https://www.coursehero.com/file/46877779/CH-7-Practice-Problems-IIdocx/

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e) If the forecasted price of the firm's output in $10 per unit, what is the optimal output
and firm's profit? What is the producer surplus?
f) What would happen in the long run in terms of number of firms, market price, and
supply?
g) If there are 100 firms in the market producing Orange Juice concentrate, what is the
total market supply and market producer surplus?

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