Question: Help with solving this ME: MH'. The following information is given: 9: = $31,000- 517. 70 rc = $650,000 + 55,0000 + $12.50' [a] Calculate

Help with solving this

Help with solving this ME: MH'. The following information is given: 9:

ME: MH'. The following information is given: 9: = $31,000- 517. 70 rc = $650,000 + 55,0000 + $12.50' [a] Calculate price output and prot for the short run equilibrium. [b] Calculate price. output and profit for the long run equiibrium {with and without product differentiation]. {c} Is the market allocativelv efficient in the short run or long run {why or why not?]. [d] Is the market producvelv efficient in the short run or long run {why or why not?)

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