Answers
a) C= 109-292 +9816 LR market price is min of me AC = C19 = 10-29 + 9216 dAc/dq - 2 + 2016 =o. 9/3=2 9-6 P= Min Ac= 10-8(6) + (6)2/6 10-12 + 6 = $4 Ang b) demand Qd = 10,000 80 Individual firm period n = 6. 80 Number of farms = 10,000 = 1666.67 ~ 1666 faome Ang C) Supply will fall, as Short Run, Number of fioms stay same, Prices rises, profits Rise."
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