Question: Reset all variables to their baseline values. Record the SHORT-RUN EQUILIBRIUM values of the following variables: 1) Market price. 2) Market quantity. 3) Firm's quantity.

Reset all variables to their baseline values. Record the SHORT-RUN EQUILIBRIUM values of the following variables: 1) Market price. 2) Market quantity. 3) Firm's quantity. 4) Firm's profits. 5) Industry profits. Start from the equilibrium you found in questions 1) to 5). For long-run equilibrium price must be at minimum LRA

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