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if there were 10 firms in this market, the short-run equilibrium price of titanium would be $ per pound. at that price, firms in this industry would . therefore, in the long run, firms would the titanium market.

Answer :

P      QS-1 company QS-10 corporations QS-15 firms QS-20 companies

10 0 0 0 0

15 30000 300000 450000 600000

30 40000 400000 600000 800000

forty 45000 450000 675000 900000

70 55000 550000 825000 1100000

ninety 60000 600000 900000 1200000

If there had been 10 companies in this marketplace, the short-run equilibrium rate of titanium could be $40 in step with the pound. At that charge, firms in this industry could (earn a positive income). consequently, ultimately, corporations would (input) the titanium market.

Because those competitive corporations earn (zero) monetary profit in the end, you know the lengthy-run equilibrium price should be $30 consistent with the pound. From the graph, you can see that this indicates there can be (15) companies running within the titanium enterprise in a lengthy-run equilibrium.

The ultimate statement is:- false

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