Suppose that a competitive firm long-run supply curve is given by the expression QF = -500 +

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Suppose that a competitive firm long-run supply curve is given by the expression QF = -500 + 10P. Does this mean that the firm will supply -500 units of output at a zero price? If so, what does output of -500 units mean?

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Managerial Economics

ISBN: 978-0324588866

12th edition

Authors: Mark Hirschey

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Question Posted: Feb 13, 2015 09:52 AM

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Suppose that a competitive firm long-run supply curve is given by the expression QF = -500 +

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Managerial Economics

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