Completed quickly and followed instructions given. Grammar, spelling, etc. was all good as well. Thank you so much! Will hire in the future.
1. Suppose that the market for painting services is perfectly competitive. Painting companies are identical; their long-run cost functions are given by.
a) Find the long-run equilibrium quantity (q) and price (P) in this industry. Round answers to one decimal. 3 points
b) If market demand is , find the equilibrium total industry output (Q). 1 point
c) Assuming again that all painting companies are identical, find the equilibrium number of firms. 1 point
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