The cheese business in Lake Fon-du-lac, Wisconsin, is a competitive industry.All cheese manufacturers have the cost function C = Q2 + 9, 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) 120.
B) 38.
C) 19.
D) 34.
E) 39.
Correct Answer:
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