Suppose that a perfectly competitive industry consists of 240 firms and fixed cost of an individual firm is 384 half of

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answerhappygod
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Suppose that a perfectly competitive industry consists of 240 firms and fixed cost of an individual firm is 384 half of

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Suppose that a perfectly competitive industry consists of 240 firms and fixed cost of an individual firm is 384 half of which is a sunk fixed cost while the average variable cost is 12q. Market demand is given by Q-1440-10P. Find the equilibrium output and profit, respectively
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