Question: HWK 7 . Question 3 continued b . Assuming that in a perfectly competitive market firms had identical cost structure, and assuming that all firms

HWK 7. Question 3 continued
b. Assuming that in a perfectly competitive market firms had identical cost structure, and assuming that all firms were in long run equilibrium, what would be the output of a perfectly competitive single firm in the long run? (1 point)
c. In the long run there are 5 firms in the perfectly competitive market, how much is the total output in this case? (1 point)
HWK 7 . Question 3 continued b . Assuming that in

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