The cheese business in Lake Fon-du-lac, Wisconsin, is a competitive industry. All cheese manufacturers have the cost function C = Q2 + 4, while demand for cheese in the town is given by Qd = 120 - P. The long-run equilibrium number of firms in this industry is
A) 29.
B) 58.
C) 56.
D) 120.
E) 59.
Correct Answer:
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