Question: The short run demand for a monopolistically competitive firm's product is given as: P = 5000-10Q. The firm's total cost function is give as TC=

The short run demand for a monopolistically competitive firm's product is given as: P = 5000-10Q. The firm's total cost function is give as TC= 0.5Q^2 + 10Q +1000. Calculate the firm's price and quantity in the long run.

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