If a representative firm with long-run total cost given by TC = 50 + 2q + 2q2 operates in a competitive industry where the market demand is given by QD = 1,410 - 40P,the long-run equilibrium output of the industry will be:
A) 490 units.
B) 530 units.
C) 570 units.
D) 610 units.
E) 650 units.
Correct Answer:
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