In the long run, the typical firm in this market will produce a quantity equal to:

Name: In the long run, the typical firm in this market will produce a quantity equal to:
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Question

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In the long run, the typical firm in a perfectly competitive market will produce where marginal cost equals marginal revenue, which occurs at q3 in this scenario. Therefore, the typical firm will produce a quantity equal to q3.

In the Long Run, the Typical Firm in This Market